According to the VEC, the project needs to implement 15 types of construction procedures from now until December 2019. Of these, there are seven procedures to adjust loan reallocation with Japanese International Cooperation Agency (JICA) and relevant ministries.
In addition, there are four procedures in technical design and estimates establishment to prepare bidding documents for construction and four others in bid invitation.
The VEC said that ministries and the State Bank of Vietnam should assist to quickly handle procedures in reallocating the funds in the loan agreement to build the project and extend implementation deadline.
The project comprises building of flyovers and a two way tunnel with four lanes to connect HCMC-Long Thanh-Dau Giay expressway and Mai Chi Tho street toward Saigon River tunnel.
Total investment capital is VND1,047 billion ($46 million) comprising the leftover from Japanese Government loan to build HCMC-Long Thanh-Dau Giay expressway.
Previously, HCMC People’s Committee had sent a document to the Ministry of Transport on An Phu intersection project. The VEC has submitted the project to the Ministry of Transport, the ministry then reported to the Prime Minister and then the PM will get opinions from the Ministry of Planning and Investment and the Ministry of Finance for this project.