Economy
Caution arises as State divestment strategy potentially poses risks
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| Vehicles move along Bình Triệu Bridge. HCM City Department of Transport has asked for approval of the city People’s Committee for the Bình Triệu No2 project’s second phase by the HCM City Infrastructure Investment Joint Stock Company. — Photo chinhphu.vn |
Viet Nam News
HCM CITY – The HCM City Department of Transport has asked for approval of the city People’s Committee for the Bình Triệu No2 project’s second phase by the HCM City Infrastructure Investment Joint Stock Company (CII).
The petition also asks for the department to co-ordinate with the city’s Interdisciplinary Working Group to negotiate the Build-Operate-Transfer contract with CII, along with appraising and ratifying subprojects.
According to CII’s proposal, the subproject No1 will enlarge the existing Ông Dầu Bridge with two bridge units on both sides of the existing one, each with 5.25 metres in width and 160 metres in length.
The subproject No4 will enlarge and reverse the War Memorial intersection and build a traffic tunnel toward Xô Viết Nghệ Tĩnh-National Highway 13; reconstruct Chu Văn An road and enlarge other roads connecting the intersection.
The subproject No5 will expand the adjacent Ung Văn Khiêm road to 30 metres in width and 1.8 kilometres in length.
Total investment of all construction, including clearance compensation, is estimated to reach more than VNĐ1.98 trillion (US$88.7 million).
CII will start collecting tolls at toll stations in Bình Triệu 1 and Bình Triệu 2 bridges after enlarging the Ông Dầu Bridge and War Memorial intersection.
Return on investment is expected to be reached in 23 years and 9 months. — VNS
