Friday, December 15 2017

VietNamNews

Major bridge to be built under public-private partnership

Update: August, 21/2017 - 16:00
The Vĩnh Tuy Bridge across the Red River in the capital city. It was launched in 2010 as a measure to reduce traffic pressure on Chương Dương Bridge. — VNA/VNS Photo Huy Hùng
Viet Nam News

HÀ NỘI — The capital city’s People’s Committee has proposed to Prime Minister Nguyễn Xuân Phúc to change the construction model of a new bridge from public investment to public-private partnership (PPP).

The 3.5km bridge will be parallel to current Vĩnh Tuy Bridge in Hai Bà Trưng District and cost some VNĐ2.56 trillion (US$112.6 million) to build.

The project is commonly known as the second phase of the Vĩnh Tuy Bridge project, which was completed and opened for public use in 2010.

Vĩnh Tuy Bridge 2 was approved for construction by the Hà Nội People’s Committee in the 2013-15 period under the public investment mechanism. It was then postponed due to former Prime Minister Nguyễn Tấn Dũng’s order to enhance management of the State’s budget and Government bonds.

The bridge is now considered a major traffic construction project of the city, since the expansion of Ngã Tư Sở-Vĩnh Tuy Bridge stretch of Ring Road 2 is increasing traffic flow and putting pressure on the current Vĩnh Tuy Bridge.

The city’s People’s Committee has decided that the Vĩnh Tuy Bridge 2 is an urgent traffic project that needs to be built from now until 2020 under the PPP mechanism of Build-Transfer (BT).

It has also proposed to apply specialised mechanisms for investor selection and take all responsibility for the result of the selection process.

By applying these mechanisms, the bidding, negotiating and contract signing process will be reduced to an average of 285-315 days, instead of 700 days if investor selection was done accordingly to procedures regulated by the Government’s Decree No 15/2015/NĐ-CP on PPP which was promulgated and took effect in 2015. 

Once the proposal is approved, the committee will direct concerned parties to facilitate the preparation process and start the bridge’s construction this year, the online Vietnamplus reported. — VNS

 

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