That was revealed by director of investor Trung Nam group Nguyen Lam Tien at a news conference yesterday.
At present, districts and a supervisory team of the city People’s Committee are stepping up site clearance for the project.
The project’s construction has used 1,850 experts, engineers, workers comprising 12 foreign experts together with 950 machines, equipment and 67,000 tons of steel. So far, installation of tide control culvert progress has reached 37 percent in the first phase of the project.
Trung Nam group has transported mud dredged from canals to landfill sites in Phuoc Kien and Hiep Phuoc commune, Nha Be and Phong Phu commune, Binh Chanh without treatment because the mud is not toxic.
Eighty four percent of the investor’s spending on the project will be paid by the city budget in cash and 16 percent will be paid with land fund. At present, the city is doing procedures to assess the value of some land parcels for the investor to choose.
The project was started last June comprising eight tide control culverts, 7.8 kilometers of embankments and auxiliary works to regulate high tides and rainwater, reduce flooding for 570 hectares with 5.6 million residents in many districts.