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Monday, May 16, 2022

Govt to fund half of investment in five major traffic projects

The Saigon Times

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HCMC – The Government will fund half of the total investment in five key national traffic infrastructure projects with a total length of over 500 kilometers.

 

On March 1, Prime Minister Pham Minh Chinh presided over a meeting between the Government and localities on the prefeasibility studies for the five projects, news site VnExpress reported.

 

The five projects—Ring Road No. 4 in the capital region, Ring Road No. 3 in the south, and the Chau Doc-Can Tho-Soc Trang, Khanh Hoa-Buon Ma Thuot and Bien Hoa-Vung Tau expressways—will be executed until 2026.

 

PM Chinh said these projects were not included in the North-South expressway project; they were important traffic routes and would pass through many localities.

 

Localities must allocate half of the investment in these projects, which can be sourced from the mid-term public investment plan, the capital for socioeconomic recovery and development and other capital resources. The capital allocation must be flexible, in line with the progress of the projects and enough for the execution of the projects in the 2021-2026 period.

 

As for projects using public investment, the localities where the projects will pass through will be the investors, while projects conducted under the public-private partnership model will be assigned to the competent State agencies. The Ministry of Transport and other relevant ministries and agencies must support local authorities.

 

PM Chinh required that these projects ensure the roads are of the shortest possible length, thus reducing the site clearance cost and time and creating new development spaces.

 

Deputy PM Le Minh Khai will be responsible for allocating the capital for these projects, while Deputy PM Le Van Thanh will be in charge of their progress.

 

Earlier, the Ministry of Transport informed that it would submit the five projects to the National Assembly for approval at its sitting in May.

 

The Ring Road No. 4 project in the capital region will be over 112 kilometers long, pass through Hanoi, Hung Yen and Bac Ninh, and require an estimated investment of over VND87.2 trillion.

 

The Ring Road No. 3 project will have a length of nearly 92 kilometers, pass through HCMC, Binh Duong, Dong Nai and Long An, and need an investment of some VND85.4 trillion.

 

Meanwhile, the 54-kilometer Bien Hoa-Vung Tau expressway project needs over VND17.8 trillion in investment.

 

The Chau Doc-Can Tho-Soc Trang expressway project will be 188 kilometers long and require an investment of VND45 trillion.

The two expressway projects will use public investment.

In addition, the 117.5-kilometer Khanh Hoa-Buon Ma Thuot expressway project will cost nearly VND22 billion and connect the Central Highlands with the central region and deep-water ports.

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