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Friday, September 30, 2022

BT contract for HCMC’s infrastructure project canceled

The Saigon Times

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HCMC – HCMC has decided to suspend the build-transfer (BT) contract for the Binh Tien road and bridge project over legal concerns.

The HCMC chairman, Phan Van Mai, made this decision on September 12, following the HCMC Department of Planning and Investment’s proposal.

The Department of Transport and the relevant agencies were tasked with studying and suggesting another investment format for the project.

The Binh Tien road and bridge project will be 3.2 kilometers long, with the bridge having a total length of over 900 meters. The project will link the Binh Tien-Pham Van Chi intersection in District 6, Vo Van Kiet Avenue, the Tau Hu and Doi canals in District 8 and Nguyen Van Linh Street in Binh Chanh District.

The prime minister authorized HCMC to choose an investor to develop the project under the BT format 12 years ago. The city then approved the investment of the project at VND2.4 trillion, but work on the project had yet to begin due to financial woes linked to site clearance and land issues.

In 2016, the city proposed the prime minister divide the project into two components. Of them, one 1.4-kilometer section will run from Pham Van Chi Street to Ta Quang Buu Street and require VND1,853 billion. The other one, which will be 1.8 kilometers long, will link Ta Quang Buu with Nguyen Van Linh, with total estimated capital of VND750 million.

However, in early 2018, after the central Government ordered the suspension of BT projects, HCMC decided to halt their execution.

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