Ho Chi Minh City People's Committee unilaterally terminated the contract with the investor of the BOT project connecting Ho Chi Minh City - Trung Luong Expressway after about 6 years of stagnation.
The Ho Chi Minh City People's Committee has just announced the unilateral termination of the BOT contract with Yen Khanh Group Joint Stock Company and Ho Chi Minh City - Trung Luong BOT Investment Company Limited (project enterprise). The reason for the unilateral termination of the contract is that these two units have committed serious violations in the BOT contract signed with the city.
In which, the investor and project enterprise did not remedy the violations in accordance with the agreement in the signed BOT contract; did not meet the requirements in the agreement of the signed BOT contract; could not provide the final settlement records of the completed volume of the project that are eligible for audited completion settlement...
After unilaterally terminating the BOT contract, Ho Chi Minh City plans to transfer this project to public investment in the remaining items to soon put the project into operation. This project is located in the West of Ho Chi Minh City, and is expected to contribute to solving the problem of traffic congestion on the arterial highway connecting Ho Chi Minh City with the provinces of the Mekong Delta.
The project has a route length of about 2.7 km, with a total investment of 1,557 billion VND (the cost of compensation for site clearance is carried out by Ho Chi Minh City). The project was scheduled to be built from 2016 to 2017, however, when only 12% of the contract value was completed in 2018, the project has been "shelved" until now.
After a long period of suspension of construction, the completed items were degraded and rusted. Weeds grew wildly and garbage also surrounded the area.
It is expected that after the termination of the BOT contract, a new project policy will be developed, bidding will be held, and investors will be sought in 2025; and construction will resume in 2026. According to a source from the Ho Chi Minh City Department of Transport, it is expected that the section connecting to the Ho Chi Minh City - Trung Luong Expressway will soon be constructed to connect to Ho Chi Minh City Ring Road 3, instead of just connecting to the Ho Chi Minh City - Trung Luong Expressway.
The leader of the Ho Chi Minh City Department of Transport said that previously, the leader of the Ho Chi Minh City Department of Transport said that it is expected that the section connecting to the Ho Chi Minh City - Trung Luong Expressway will be constructed to connect to Ho Chi Minh City Ring Road 3, instead of just to the Ho Chi Minh City - Trung Luong Expressway.
Source: https://www.baogiaothong.vn/tphcm-cham-dut-hop-dong-voi-nha-dau-tu-bot-duong-noi-cao-toc-trung-luong-192240709072410877.htm
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