A proposed architectural design for Thủ Thiêm 4 Bridge. — Photo courtesy of the HCM City Department of Planning and Architecture

HCM CITY — HCM City plans to build the long-delayed Thủ Thiêm 4 Bridge using state budget funds, abandoning public-private partnership (PPP) models after years of regulatory and financing obstacles, city authorities said on Sunday.

The city’s People’s Committee has submitted a proposal to the People’s Council seeking approval for public investment in the project, with construction expected to begin in the fourth quarter of 2026 and be completed within two years.

Total investment is estimated at more than VNĐ5.06 trillion (US$200 million), including roughly VNĐ1.39 trillion for land clearance, compensation and resettlement.

The 2.16-km bridge will link Nguyễn Văn Linh Street near Tân Thuận 2 Bridge in the former District 7 with Nguyễn Cơ Thạch Street in the Thủ Thiêm New Urban Area of Thủ Đức City. It will have eight lanes and a design speed of 60 km/h.

City officials said public funding was selected after earlier investment approaches proved unworkable.

The project was initially studied under a build-transfer (BT) model and later as a PPP, but both stalled due to regulatory changes, land valuation challenges and the project’s high capital cost.

The same issues have delayed Thủ Thiêm Bridge 3, which is planned to connect Thủ Thiêm with the former District 4. Although approved in principle, Bridge 3 has yet to break ground due to unresolved land clearance and financing constraints.

By contrast, authorities said Thủ Thiêm 4 faces fewer site clearance difficulties and addresses more immediate transport demand, as infrastructure in the Thủ Thiêm New Urban Area is largely complete while direct links to the southern part of the city remain limited.

Once completed, the bridge is expected to form a new east-southeast transport corridor, easing congestion on major crossings including Khánh Hội, Kênh Tẻ and Nguyễn Văn Cừ bridges.

Thủ Thiêm is currently linked to the city centre by the Thủ Thiêm Tunnel, which opened in 2011, and two bridges, Thủ Thiêm Bridge 1 and Thủ Thiêm Bridge 2, which opened in 2022.

City authorities said an architectural design competition will be held after the investment plan is approved. — VNS