Tuesday, November 19 2019

VietNamNews

HCM City needs over $3.6 billion for infrastructure

Update: October, 30/2019 - 08:22

 


Traffic jams occur frequently at the eastern gate of HCM City.on Điện Biên Phủ Street in Bình Thạnh District. — VNA/VNS Photo 
  

HCM CITY — HCM City needs to invest more than VNĐ83.06 trillion (US$3.58 billion) in transport infrastructure in 2021 – 25.
According to the city People’s Committee, 12 projects requiring VNĐ45.16 trillion will be funded by the Government.
They include four to be funded by official development assistance money: the second stage of the Water Environment Improvement Project in the Tàu Hủ - Bến Nghé, Kênh Đội, Kênh Tẻ Basin; the Technical Assistance Project to HCM City Green Transport Development Project financed by State Secretariat for Economic Affairs (SECO); the Green Transport Development Project for the Metro Line No 2; and the project for construction of Tham Lương – Bến Thành metro line No 2.
Eight projects costing VNĐ39.63 trillion to be financed by public funds are the HCM City – Thủ Dầu Một – Chơn Thành Expressway, the four sub-projects of the beltway No 3, the two intersections on the Tân Tạo – Chợ Đệm Highway; the third stage of the Soài Rạp River dredging work; and the project for infrastructure development in the Mekong Delta.
Nine other works to link the city with neighbouring provinces will also begin during the period at a cost of VNĐ37.9 trillion in public-private partnership (PPP) mode, including the HCM City – Mộc Bài Expressway and a highway parallel to National Highway No 50 to Long An.
Despite being critical infrastructure projects, the 12 projects have progressed slowly.
A spokesman for the HCM City Department of Transport said a lack of beltways was one of the major causes for the traffic congestion in the city in the last several years.
He said the four beltways in Hà Nội had helped the capital not only resolve its traffic problems but also relocate residents from inner districts.
To ease the traffic jams facing HCM City, the city must focus on the completion of its beltways and other major infrastructure works, he added. —VNS.

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