HCM City removes obstacles facing Thu Thiem 2 bridge project

26-Jan-2021 Intellasia | The Saigon Times | 6:52 AM Print This Post

The HCM City Department of Transport has submitted to the municipal government some solutions to remove obstacles facing the Thu Thiem 2 bridge project, which spans the Saigon River and connects HCM City’s District 1 with Thu Thiem Peninsula in Thu Duc City, so that work on the project can resume.

The project has been suspended for two months.

According to the department, the city should assign the HCM City Management Board of Investment and Construction of Traffic Projects to review and determine the workload of the project in the first stage as required by the Dai Quang Minh Real Estate Investment Company, the investor of the project.

In addition, the municipal Departments of Finance and Natural Resources and Environment should review regulations and make proposals to the municipal government relating to the issuance of the land use right certificate for the investor as the investor has paid some VND800 billion to the city’s budget.

The Department of Transport will have to coordinate with other relevant departments and the investor to work out a payment plan and submit it to the municipal government for approval.

On January 20, a representative of the investor said that the city should issue the land use right certificate so that banks would continue funding the project as committed to earlier.

Moreover, the competent agencies should hand over the cleared site in District 1 for the project to the contractor of the project. The District 1 government had earlier pledged to hand over the site in mid-October last year.

Work on the project, which was designed to have six lanes, be nearly 1,500 meters long and require an estimated investment of some VND3.1 trillion, started in 2015. The project is 70 percent complete.

https://english.thesaigontimes.vn/80293/hcmc-removes-obstacles-facing-thu-thiem-2-bridge-project.html

 

Category: Business, Vietnam

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