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PM allows Hà Nội to choose flyover investor

Update: September, 23/2017 - 09:00
Prime Minister Nguyễn Xuân Phúc has allowed the Hà Nội People’s Committee to choose the investors for a pedestrian flyover along the city’s ringroad No 2.— Photo thoibaotaichinhvietnam.vn

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has allowed the Hà Nội People’s Committee to choose the investors for a pedestrian flyover along the city’s ringroad No 2.

The decision is somewhat unusual in that even major cities that enjoy a measure of autonomy usually have to defer to the Government in chosing investors for major projects. Exceptions are made when a project is highly localised and distinct. 

PM Phúc warned Hà Nội to ensure that its instructions for the tender are clear, adding that the capital city will be responsible for implementing the Ministry of Planning and Investment’s requests. He also said Hà Nội must closely supervise the project’s cost based on the BT (Build-Transfer) model to ensure it conforms with market prices.

PM Phúc asked the Hà Nội People’s Committee to seek guidance from the Ministry of Finance and the Ministry of Natural Resources and Environment.

The Hà Nội People’s Committee approved the project last year at a total investment of more than VNĐ4.7 trillion (US$210 million). Construction of the 5km flyover is scheduled to last four years.

The ringroad runs from the Vĩnh Tuy Bridge, which connects Hai Bà Trưng and Long Bi6n districts, to Ngã Tư Sở intersection in Đống Đa District. — VNS

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