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Sunday, February 25, 2024

HCMC achieves 59.8% of public investment disbursement target

The Saigon Times

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HCMC – HCMC disbursed over VND42.6 trillion in public investment capital in January-November, equivalent to 59.8% of the full-year plan set by the prime minister.

During this 11-month period, the city’s public investment disbursement rose 60.06% against the same period last year, according to the HCMC Statistics Office.

In November alone, State-funded capital construction and major repair projects in HCMC recorded disbursements of nearly VND6.5 trillion, a 16.5% increase against October and a year-on-year rise of an impressive 91.2%.

The city has made significant progress in several major projects, notably the HCMC Metro Line No. 1, which is now over 95% complete. This 19.7-kilometer urban railway, connecting Ben Thanh Market in District 1 to Long Binh depot in Thu Duc City, has a total cost of over VND43,700 billion, or nearly US$2 billion.

The Management Authority for Urban Railways of HCMC (MAUR) looks to put the project into commercial operation by July 2024.

The second component of the HCMC Beltway No. 3 project has also seen expedited progress due to swift compensation for affected households, with 94% of site clearance completed. The Nhon Trach Bridge project on the road is moving as planned, and it is now 38% complete, compared to 33% as initially planned for this time.

However, the National Highway 50 widening project in the outlying district of Binh Chanh has had difficulties with site clearance and the relocation of technical infrastructure. The project’s expected completion date has been set for December 31, 2024.

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