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Saturday, July 13, 2024

HCMC proposes six BOT road projects worth VND100 trillion

The Saigon Times

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HCMC – The HCMC Department of Transport has proposed developing six projects to widen and upgrade existing roads under the build-operate-transfer (BOT) format with a total cost of VND100 trillion.

Under the Law on Public-Private-Partnership Investment, the BOT format is only used for building new roads, the local media reported.

However, the city’s roads, especially key roads to residential areas, gateways and neighboring provinces, have become overwhelmed with traffic. They need upgrading and widening while the State budget is limited, the HCMC Department of Transport said, adding BOT is a viable way to raise enough funding for road rehabilitation.

Among the six proposed upgrade projects are the An Lac-Long An section of National Highway 1, which is 9.6 kilometers in length and requires over VND12.8 trillion; National Highway 22, which is 9.1 kilometers long and will cost VND1.2 trillion, and a 5.8-kilometer section of National Highway 13 with a cost of VND12.2 trillion.

Three other projects are lengthening a road connecting with Beltway No. 3 with a total investment of VND13.8 trillion, widening a 26.8-kilometer road from Au Co Street to the Hiep Phuoc industrial park at a cost of over VND54.2 trillion, and upgrading a 5.8-kilometer road parallel to National Highway 50, which will cost VND3.8 trillion.

The HCMC Department of Transport has proposed the Ministry of Transport allow the city to mobilize funds from the private sector to implement road upgrade and expansion projects under the BOT format. The department also proposed adding the proposal to a draft resolution replacing Resolution 51, which will be submitted to the National Assembly for consideration in May this year.

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