HCM City needs over 3.6 billion USD for infrastructure
10/31/19 3:54 PM
Ho Chi Minh City needs to invest more than 83.06 trillion VND (3.58 billion USD) in transport infrastructure in 2021 – 25.
According to the city People’s Committee, 12 projects requiring 45.16 trillion VND 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 Tau Hu – Ben Nghe, Kenh Doi, Kenh Te Basin; the Technical Assistance Project to Ho Chi Minh 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 Luong – Ben Thanh metro line No 2.
Eight projects costing 39.63 trillion VND to be financed by public funds are the HCM City – Thu Dau Mot – Chon Thanh Expressway, the four sub-projects of the beltway No 3, the two intersections on the Tan Tao –
Cho Dem Highway; the third stage of the Soai Rap 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 37.9 trillion VND in public-private partnership (PPP) mode, including the HCM City – Moc Bai 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 Hanoi 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.