HCMC – The HCMC Department of Transport has thrown its weight behind a proposal to develop the Elevated Road No.5 project, which starts from Station 2 on National Highway No.1 in Thu Duc City and ends at the An Suong and An Lac traffic junctions in HCMC.
The project was proposed by the Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO), with four lanes and a length of 34 kilometers.
The department said that the development of the VND15.5 trillion project was necessary as it is on par with the city’s transportation development zoning plan until 2020, with a vision after 2020.
It is also part of an investment portfolio of road transport projects during the 2021-2030 period approved by the municipal government.
The project in the first phase will stretch some 21.5 kilometers and require nearly VND15.5 trillion in investment.
As the city’s traffic infrastructure has failed to meet the economic and population growth, with many roads facing severe traffic congestion, the Transport Department backed the proposal of IDICO to use its own funding to study and suggest investment methods for the project under the public-private partnership format.
The Transport Department further requested the HCMC Department of Planning and Investment to instruct the firm to carry out necessary procedures.