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Tuesday, July 16, 2024

VND7.44 trillion to be disbursed for infrastructure projects this month

The Saigon Times

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HCMC – The Department of Planning and Investment under the Ministry of Transport has announced plans to disburse over VND7.4 trillion for traffic infrastructure projects in September.

Four key project management boards will play a vital role in the disbursement process. Project Management Board 85 and the Project Management Board for Ho Chi Minh Highway will each get around VND1.4 trillion.

Project Management Board 7 asks for over VND1.37 trillion, while the My Thuan Project Management Board will be disbursed VND887 billion.

The Ministry of Transport previously reported that various units under its purview had disbursed over VND49.7 trillion in the year to late August, accounting for 52% of the year’s plan. The disbursement progress against investor-submitted plans reached 95% by the end of the month, exceeding last year’s performance more than twofold in terms of value.

Key contributors to the higher disbursement progress were component projects of the second phase of the North-South Expressway, with disbursements reaching nearly VND26.8 trillion, achieving 59% of their allocated funds.

However, some projects fell short of their disbursement targets due to delays in land clearance.

Localities have handed over more than 90% of the required land for projects, but disbursements have reached just over VND7 trillion, representing 47% of the annual plan.

Unfavorable weather conditions and delays in supplying construction materials by local authorities have also impacted disbursement outcomes.

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