HCMC elevated road may cost $343 mln more

The new cost was proposed by the Ho Chi Minh City Infrastructure Investment JSC (CII) in a recent report sent to city authorities.

According to CII’s preliminary calculation, the project’s cost includes nearly VND19 trillion for site clearance and compensating affected households.

Compared to the pre-feasibility study report five months ago, the cost has risen by almost VND8 trillion ($343), with the CII ascribing the increase to site clearance.

As the company estimated, a total area of more than 12 hectares in districts 1, 3, 5, 8, 10 and Tan Binh will be cleared, with 1,200 households set to be relocated.

The company suggested building the road in the build-operate-transfer (BOT) format.

The road of four lanes will run 14.1 kilometers from the Cong Hoa – Truong Chinh intersection near Tan Son Nhat airport in Tan Binh District to Nguyen Van Linh Street near the Phu My Hung residential area in District 7.

It is expected to ease congestion on roads leading to the airport and alleviate rising transport pressure on the country’s economic hub.

HCMC has planned five elevated roads that stretch a combined 71 kilometers but none have been invested until now.

The city of 13 million including migrants has been struggling with traffic congestion for years.

It currently has 8.4 million registered vehicles, including 7.4 million motorbikes, according to the municipal Traffic and Urban Advisory Council.