Wednesday,  Nov 21, 2018,02:18 (GMT+7) 0 0
HCMC approves North-South axis road project
The Saigon Times Daily
Friday,  Sep 14, 2018,17:45 (GMT+7)

HCMC approves North-South axis road project

The Saigon Times Daily

HCMC – The People’s Committee of HCMC has approved a plan to build a 7.5-kilometer-long section of the North-South axis road, which is worth more than an estimated VND8.5 trillion, equivalent to some US$365 million, under the build-transfer format.

In a joint venture, local firms Hoa Phong and Moc An had proposed the plan to the municipal government.

The North-South axis road has six lanes with a total width of 29.5 meters. One section of the road will run from Hoang Dieu Street in HCMC’s District 4 to Nguyen Van Linh Parkway in District 7 and another from Nguyen Van Linh Parkway to Ba Chiem Bridge in District 7. The total investment capital is inclusive of site clearance cost.

The project comprises an intersection at which the Nguyen Van Linh and Nguyen Huu Tho streets meet. In addition, Rach Dia, No.1, Phuoc Kieng and Ba Chiem bridges are also part of this project.

The firms pledged to make advance payment for site clearance work. The city government is in charge of paying site clearance compensation for the North-South road axis section and the Hiep Phuoc Urban Area.

Apart from that, the firms also committed to place a deposit of VND5-VND10 trillion if they were selected as the main investor of the project. The city will refund the money by handing over 1,300 hectares of land in the Hiep Phuoc Urban Area in the outlying district of Nha Be, the firms suggested.

The firms concurrently proposed the city allow them to invest in the Hiep Phuoc Urban Area, with total investment capital exceeding VND17 trillion.

Once completed, the road axis project is expected to be beneficial to the Hiep Phuoc Industrial Park and Urban Area, especially when the Soai Rap River is dredged and can accommodate larger ships.

The North-South axis road, running from National Highway 22 in District 12 to Hiep Phuoc Industrial Park, is among the two axis roads in the city. Of this, the Nguyen Van Linh-Ba Chiem Bridge section is the key axis point, forming part of the city’s transport strategy until 2020 approved by the Government.

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