HCM City seeks funds for the Metro No 1 Bến Thành – Suối Tiên line, one of nine key infrastructure projects that need more money. — VNA/VNS Photo by Tiến Lực
HCM CITY — The Government Office has asked 13 ministries and agencies to provide support for nine key infrastructure projects in HCM City.
Earlier, city authorities requested funding approval from the Ministry of Planning and Investment for the Belt Road No 3 project linking HCM City and the provinces of Bình Dương, Đồng Nai and Long An.
Though the 97.7 km road project was approved in 2011 with investment capital of VNĐ3 trillion (US$129 million), construction has not begun due to a lack of capital.
The city, citing the ongoing impact of climate change, has also asked the ministry to extend the time for funding a flood-prevention project to September 2020.
The city has also sought approval for the Thủ Thiêm Eco Smart City project and a sports complex in the Thủ Thiêm New Urban Area in District 2, and a mall-apartment complex at 76 Tôn Thất Thuyết Street in District 4 invested in by Sabeco HP Investment Limited Company.
In addition, it has asked for the Government's approval to use two land lots at 257 Trần Hưng Đạo and 3-3bis Phan Văn Đạt streets in District 1, and the 3ha Phú Thọ Horse Racing Ground in District 11 to pay for a Build-Transfer (BT) contract for the Phan Đình Phùng Sports Complex project.
The VNĐ1.95 trillion (US$85 million) sports complex in District 3 will consist of seven floors and three basements. It is expected to host national and Southeast Asian competitions. The investors are the Compensation and Clearance Corporation and Phát Đạt Real Estate Development Corporation.
Besides these requests, city authorities have asked the Prime Minister to decide on an adjustment policy for a tourist area in Cần Giờ District that will encroach on the sea, as proposed by the Ministry of Planning and Investment.
The city also wants an advance of VNĐ600 billion ($25.85 million) to pay debts to the contractor who has worked in the second phase of environmental improvement projects at the Tàu Hủ - Bến Nghé – Đôi – Kẻ canals, and more than VNĐ2.18 trillion ($93.9 million) from the state budget to pay debts to foreign contractors involved in the Metro No 1 Bến Thành – Suối Tiên project.
In addition, the city is asking for a decision from the PM on a re-lending ODA plan for the metro project, which has already been agreed to by the HCM City People's Committee and the Ministry of Finance. VNS