HCMC reduces dependence on private transport infrastructure investors

HCM City to reduce dependence on private investors for transport infrastructure

Ho Chi Minh City has decided to convert a number of private transport infrastructure projects that were designated as BOT (build – operate – transfer) and BT (Built – Transfer) into public projects.

Sunday, June 02, 2019 16:55

HCM City to reduce dependence on private investors for transport infrastructure ảnh 1

Construction of HCM City’s Ringroad No 2 in Thủ Đức District (Source: VNA)

HCM City (VNS/VNA) – Ho Chi Minh City has decided to convert anumber of private transport infrastructure projects that were designated as BOT(build – operate – transfer) and BT (Built – Transfer) into publicprojects.

Tran Quang Lam, director ofthe Department of Transport, said the city has found it difficult to attractinvestment in transport infrastructure, especially ring roads,national highways and roads in inner districts.

These include the 64km, six-lane ring road No2, whose last 11km stretch is scheduled to be completed in 2022.

According to the department, land compensation for the sections (of ring roadNo 2) from Phu Huu Bridge to Hanoi

Highway and from Binh Thai Intersectionto Pham Van Dong Highway is estimated at 5.1 trillion VND (221.8 million USD)and construction costs at 2.7 trillion VND (117.4 million USD).

The department has suggested convertingthis BOT project into a public project, and Lam said this, if approved bythe city People’s Council, would help complete the ring road in 2022.

The department has also asked forsimilarly converting works to upgrade and widen national highways No 1A,13, 22, and 50.

Nguyen Thanh Phong, Chairman of the municipal People’s Committee, has green-lighted the proposal for the completionof ring road No 2 and instructed related departments and agencies to go aheadwith the plan to convert BOT and BT projects to public projects.

He said by June the transportdepartment has to complete the procedures for publicinvestment in stages 1 and 2 of ring road No 2.

Its sub-project related topaying compensation for affected households should be undertakenusing public funds while the sub-project related to its construction willbe undertaken in public-private-partnership (PPP) form, he said.

The city has many infrastructure worksand so relevant agencies should give priority to urgent ones which wouldhelp resolve traffic problems.

Each project should be carefullyconsidered to identify suitable investment forms and construction schedules, hesaid.

Departments and agenciesshould consider ways to exploit lands along the urban railwaynetwork, expressways and ring roads, he said.

The effort must be led by thedepartments who would collaborate with district-level agencies, he said.The plans for exploiting the lands must be reported to the People'sCommittee by the end of the third quarter this year, he added. – VNS/VNA

VNA

#Ho Chi Minh City #private transport infrastructure projects #BOT #BT #public projects #private investors #transport infrastructure Ho Chi Minh City

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