Ho Chi Minh City needs to have VND2.6 million billion (US$122.5 billion) for its traffic infrastructure development by 2020, Bui Xuan Cuong, deputy director of the city Transport Department, said at Friday’s meeting with a working team of the National Assembly’s Committee for Science and Technology.
Cuong announced the estimated figure at a meeting with a working team of the National Assembly’s Committee for Science and Technology on August 1.
Meanwhile, the city’s budget can afford only VND7-8 trillion ($330-377.1 million) per year on projects to develop its traffic infrastructure projects, much lower than the projected expenditure, the department said.
According to the city’s traffic and transport development plan by 2020 recently approved by Prime Minister Nguyen Tan Dung, the city will build and perfect six expressway routes and reform and upgrade many national highways, including major ones such as National Highways 1, 13, 22, 50 and 1K.
Regarding railway systems, the city will build an overhead railway line running from the Hoa Hung Railway Station in District 3 to Binh Trieu Station in Thu Duc District, Cuong said.
In addition, the city authorities will also consider projects to build five railway systems to meet the demand for travel by train in the future, the official added.