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Sunday, September 25, 2022

HCMC seeks nod to restart half-finished bridge project

The Saigon Times

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HCMC – The Department of Transport sought approval from the HCMC People’s Council on September 21 to restart work on the half-finished Tan Ky Tan Quy Bridge project in Binh Tan District.

The cost of the project is over VND490 billion, which will be covered by the State budget.

VND168 billion will be needed for construction and nearly VND200 billion for site clearance compensation. The rest of the capital will go to project management and backup plans.

Work on the Tan Ky Tan Quy Bridge project began in early 2018 under the build-operate-transfer (BOT) contract with an estimated cost of over VND312 billion. The investor would recover the capital for this project by collecting tolls at An Suong-An Lac toll station on National Highway 1A.

The investor suspended construction work due to land clearance difficulties when the project was 70% completed.

In a review of the project, the State Audit concluded that BOT was not an appropriate form of investment for the project due to the clash of interests between the investor and the public. The city then decided to suspend the BOT project and shift to using State funding.

With a length of 80 meters, the Tan Ky Tan Quy Bridge was built to replace the old bridge spanning Tham Luong-Ben Cat Canal and help ease traffic congestion in the surrounding area.

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