Traffic jam in Ho Chi Minh City. Illustrative image (Source: VNA)

HCM City (VNA) - The Binh Tien Bridge and Road project will be built by four contractors with total investment of 3.508 trillion VND (157 million USD) to relieve traffic congestion, the city’s Transport Department has said.

The transport project links District 6’s Pham Van Chi Street and East-West Avenue; District 8’s Tau Hu and Doi canals; and Binh Chanh District’s guyen Van Linh Street.

Expected to be completed by 2020, the project will be divided into two sections.

The first section from District 6’s Pham Van Chi Street to District 8’s Ta Quang Buu Street will be managed by DMK Company and 319 Corporation.

A bridge will be built over Tau Hu and Doi canals, with total investment of 2.605 trillion VND (117 million USD).

Since the section will be implemented under a Build-Transfer (BT) model, the two contractors will receive plots of land equal to 40 percent of the investment capital, while the remaining 60 percent will come from the state budget.

The two contractors will also be able to use several land plots in District 8’s ward 6, 14 and 15.

The second section of the project, from District 8’s Ta Quang Buu Street to Binh Chanh District’s Nguyen Van Linh Street, will be handled by the Licogi 16 Joint-Stock Company and BCCI Company, with total investment of 903.6 billion VND (40 million USD).

The two contractors will be given land along Binh Tien Bridge and Road and other land plots in return.

Though Binh Tien Bridge and Road project was approved by the government in 2010, it has yet to start because city authorities have faced challenges arranging the land for contractors.

Binh Tien Bridge, including roads leading to the bridge, will be 3,200 metres long and 30-40 metres wide. It will have four main lanes.

To reach southern metropolitan areas, drivers have had to rely on Nguyen Tri Phuong Street and National Highway 50; and Y, Cha Va, and Nhi Thien Duong bridges.

However, due to rapid urbanisation and traffic congestion, more problems have occurred at these hotspots in recent years.-VNA