HCMC seeks $4.44 billion investment in traffic by 2020

Ho Chi Minh City needs the total funds of VND137.5 trillion (US$6.13 billion) including nearly VND38 trillion ($1.69 billion) state capital to invest in traffic infrastructure projects in the phase of 2016-2020, announced the city People’s Committee Office yesterday.

The construction site of the first metro route Ben Thanh-Suoi Tien in HCMC (Photo: SGGP)

The above information was taken from a report on the city’s capital demand for traffic projects which the People’s Committee sent to the Ministry of Planning and Investment.
According to the report, HCMC is now calling investment under Public Private Partnership (PPP) form for large projects including monorail line no.3, Highway 22 expansion and flyover no.5.
Building of the monorail running along Phan Van Tri crossroads-Nguyen Oanh-Tan Chanh Hiep station is expected to cost VND8.4 trillion, Highway 22 (Asian Highway) project needs VND12.85 trillion, the flyover over An Lac intersection in Highway 1A will take VND20 trillion.
At present, the city is implementing important projects including the second phase of the environmental hygiene project to improve water environment in the valley of Tau Hu-Ben Nghe-Doi-Te canals.
Other under-construction projects comprise the first metro route Ben Thanh-Suoi Tien and the second metro route Ben Thanh-Tham Luong.
Total investment capital for these project is VND137 trillion ($6.11 billion). Of these, VND91.4 trillion ($4.08 billion) comes from official development assistance (ODA) source and the rest amount from the city budget.

By Quoc Hung – Translated by Hai Mien

Other news