|Traffic jam in My Thuy Intersection which is expected to get flyover, tunnel upon a HCM City's proposal to the Government. — Photo baogiaothong.vn
HCM CITY (VNS) — The HCM City's People Committee has asked the government to approve a traffic project for the city.
The project at My Thuy Traffic Intersection in District 2 will require an estimated investment of VND770 billion (roughly US$35.3 million).
In the first phase, the project will include the construction of a flyover, an underground tunnel and several related facilities.
The municipal authority has asked the government to invite bids for the project. The winning bid will receive advance investment funds from the city's budget.
The bidder will repay the funds with interest after two to five years. The My Thuy Traffic Intersection is a major link to Cat Lai Seaport and belt road number two of the city.
There are frequent heavy traffic jams in the area and so, the implementation of the project is an urgent requirement. —VNS