The Department of Finance proposed assigning Masterise to study the Phu My 2 bridge project.

The Phu My 2 Bridge project was proposed by Masterise Group to be invested in the form of PPP to increase connectivity between Ho Chi Minh City and Long Thanh airport.

In Ho Chi Minh City, the final stop of the project before crossing the river is located in the Dao Tri Street area, bordering the Nha Be and Dong Nai rivers; on the other side is Nhon Trach (Dong Nai) - Photo: PHUONG NHI

The Ho Chi Minh City Department of Finance has submitted a report to the Ho Chi Minh City People's Committee regarding the proposal from Masterise Group Joint Stock Company to participate in preparing a feasibility study for the Phu My 2 bridge project under the public-private partnership (PPP) model.

Masterise proposes commencing construction of Phu My Bridge in 2026.

After reviewing the proposal documents and considering the opinions of relevant departments and units, the Ho Chi Minh City Department of Finance recommends that the Ho Chi Minh City People's Committee approve Masterise Group's proposal for the Phu My 2 bridge project under the public-private partnership (PPP) method, to be submitted to the competent authority for consideration and decision on the investment policy in accordance with regulations.

The deadline for completing the project proposal and submitting it to the competent authority is 12 months. If the project proposal is not approved by the competent authority, or if it is not completed within the deadline, the approval letter from Ho Chi Minh City will become invalid. Furthermore, Masterise Group will bear all risks and costs incurred.

The submission of this project proposal does not obligate Masterise Company to be designated as the investor for the project. After the investment policy decision, project announcement, and feasibility study report are approved, Ho Chi Minh City will organize the selection of the investor to implement the project according to regulations.

In terms of scale, the Phu My 2 bridge project is 6.3km long, starting at Nguyen Huu Tho Street (Ho Chi Minh City) and ending at Lien Cang Street (Dong Nai province). The route has 8 lanes, with the approach road on the Ho Chi Minh City side connecting the North-South axis via a two-tiered elevated bridge along Hoang Quoc Viet Street and a connecting branch to Dao Tri Street.

The preliminary total investment for the project is approximately 12,912 billion VND. Regarding the capital structure, the budgets of the two localities are expected to allocate 2,130 billion VND for land clearance, resettlement, etc.; the remaining capital will be mobilized by the investor.

The project aims to submit the investment policy for approval in Q4 2025, commence construction in Q3 2026, and be completed in 2029.

The project is urgently needed to connect Long Thanh Airport.

Location of bridges connecting Ho Chi Minh City and Dong Nai - Graphic: Tuan Anh

With Long Thanh Airport scheduled to begin operations in 2026, investing in additional connecting routes to Ho Chi Minh City is extremely urgent.

At the working session on October 21, the Standing Committee of the Ho Chi Minh City Party Committee and the Standing Committee of the Dong Nai Provincial Party Committee agreed on the principle of strengthening transportation connections between the two localities, especially with Long Thanh Airport.

For transportation projects connecting the two localities, especially large-scale investment projects such as Phu My 2 Bridge and Dong Nai 2 Bridge (Long Hung Bridge), the two localities agreed to encourage the participation of private investors to mobilize investment resources.

According to the Ho Chi Minh City Department of Finance, the Phu My 2 bridge and road project is a strategic road axis within the network of high-speed main roads (with minimal interruptions and intersections) connecting the city center with inter-regional roads, a project currently under study by Ho Chi Minh City.

The Phu My 2 high-speed rail line, along with the elevated sections of Nguyen Huu Tho road (Ho Chi Minh City), will create a transportation axis connecting Tan Son Nhat Airport and Long Thanh Airport. The project will help alleviate congestion on the existing Ho Chi Minh City - Long Thanh - Dau Giay expressway and Phu My bridge, while also promoting the development of the southern part of Ho Chi Minh City and the Nhon Trach urban area.

Besides the Phu My 2 bridge project, Masterise Group had previously proposed several other important projects in Ho Chi Minh City. Specifically, these include the Can Gio bridge project connecting the Can Gio area with the city center, the urban expressway connecting the Ho Tram area to Long Thanh International Airport, and the Metro Line 3 project (An Ha - Hiep Binh Phuoc ).

PHUONG NHI

Source: https://tuoitre.vn/so-tai-chinh-de-xuat-giao-masterise-nghien-cuu-du-an-cau-phu-my-2-20251025180808206.htm