HCM City plans to build 1 million sq. metres of new roads this year to ease traffic congestion, the Department of Transport said.

This would take the density of roads in the city to 1.816km of roads per square kilometre.

To achieve the target, the city will seek to raise funds from local and foreign investors through public-private partnership (PPP), build-operate-transfer (BOT), build-transfer-operate, and build-transfer (BT) models.

This year private investors would begin work on nine major transport projects in the city at a cost of 34 trillion VND (1.6 billion USD) and 171 million USD.

The HCM City Infrastructure Investment Joint Stock Company will expand the Hanoi Highway , build the Rach Chiec Bridge , the inter-provincial Highway 25B, and the second phase of the Binh Trieu Bridge .

It will also start work on the Sai Gon Bridge No. 2 in April under a BT model at a cost of more than 1.2 trillion VND.

Work on the Thu Thiem Bridge No. 2 – linking the Thu Thiem urban area and the planned Thu Thiem new urban area – would be begun this year at a cost of 1.6 trillion VND.

In July work would begin on the Thu Thiem new urban area with the construction of four major roads.

The section of the Belt Road No. 2 between An Lap Traffic Point and Nguyen Van Linh street will also be built this year at a cost of 9 .5 trillion VND.

PetroVietnam Infrastructure and Urban Investment Joint Stock Company, the belt road investor, is finalising the design and paperwork under the BT model.-VNA