HCM City to invest $1.8b in five BOT projects

The new Bưng Bridge connecting Tân Phú and Bình Tân districts in HCM City helps reduce traffic congestion on Lê Trọng Tấn Street. — VNA/VNS Photo Tiến Lực

HCM CITY — The HCM City People’s Committee has signed a decision outlining a plan to implement five Build-Operate-Transfer (BOT) projects on upgrading, expanding, and modernising existing road infrastructure in the city.

These BOT projects are located at the city gateways.

They are a project to upgrade and expand a National Highway No 13 section from Bình Triệu Bridge to the border area of Bình Dương Province, and a project to upgrade and expand National Highway No 1 section from Kinh Dương Vương Street to the border area of Long An Province.

A project to renovate and upgrade a National Highway No 22 section from An Sương intersection to Ring Road No 3, a project to upgrade the North-South axis from Nguyễn Văn Linh Boulevard to Bến Lức – Long Thành Expressway, and construction of Bình Tiên road and bridge from Phạm Văn Chí Street to Nguyễn Văn Linh Boulevard are included.

The total investment for the five projects is estimated about VNĐ44.6 trillion (US$1.8 billion), of which, about VNĐ8.1 trillion ($331.4 million) will be used to undertake project preparation, implement land clearance, and provide support for construction in the 2023-25 period.

In 2026-30, VNĐ16.7 trillion ($683.2 million) will be sourced from the city’s budget and VNĐ19.8 trillion ($810 million) from investors under the BOT contract.

According to the decision, heads of departments, divisions, people’s committees of districts and Thủ Đức City, and relevant agencies and units are tasked to develop specific programmes and plans aligned with the work programmes of each locality and unit in order to implement the projects on schedule.

Selecting investors and signing BOT contracts are targeted to be completed in the third quarter of 2025.

The city will complete the preparation and appraisal of a pre-feasibility study report in the second quarter of 2024, and the appraisal process and investment decision in the third quarter of 2024.

Construction of the projects is expected to start in the fourth quarter of 2025. — VNS