Ho Chi Minh City proposed to adjust the project to upgrade Nguyen Duy Trinh Street, total investment capital increased 2.3 times.

The Ho Chi Minh City People's Committee has just submitted to the Ho Chi Minh City People's Council for consideration and adjustment of the investment policy for the project to upgrade and expand Nguyen Duy Trinh Street (section from Ring Road 2 to the entrance to Phu Huu Industrial Park).

People worry about lurking accidents when traveling on Nguyen Duy Trinh Street (Thu Duc City)

The project was approved in principle by the Ho Chi Minh City People's Council in 2015 with a total investment of more than 830 billion VND, a cross-section of 30m, invested by Urban Traffic Management Area No. 2 (now the Traffic Construction Investment Project Management Board). The implementation period is 2017 - 2021. However, it has not been able to be implemented yet due to problems in compensation and site clearance, leading to high investment costs, far exceeding the initial approval.

According to the proposed adjustment, the total investment of the project increased to nearly 1,860 billion VND, 2.3 times higher than the previous level. Of which, the cost of compensation, resettlement support and relocation of technical infrastructure alone amounted to more than 1,500 billion VND, an increase of nearly 1,000 billion VND compared to before. The project was also reclassified from group B to group A according to regulations.

The implementation schedule has been adjusted from 2017-2021 to 2017-2028. The city plans to complete the procedures for adjusting the investment policy, appraising and approving the feasibility study report in 2025; complete compensation and site clearance in 2026; select contractors and start construction in 2027 and complete final settlement in 2028.

The project investment capital is entirely allocated from the city budget. In the 2016-2020 period, 0.75 billion VND has been disbursed; in the 2021-2025 period, 1,550 billion VND is expected to be allocated (1.5 billion VND has been disbursed); in the 2026-2030 period, more than 1,856 billion VND is expected to be needed - mainly for compensation and resettlement support in 2026.

According to the Ho Chi Minh City People's Committee, the investment in upgrading and expanding Nguyen Duy Trinh route, along with other key traffic projects such as Ring Road 2 or Ong Nhieu Bridge, will create great traffic capacity, contributing to completing the traffic network.

CAM NUONG - THU HUONG

Source: https://www.sggp.org.vn/tphcm-de-xuat-dieu-chinh-du-an-nang-cap-duong-nguyen-duy-trinh-tong-von-dau-tu-tang-gap-23-lan-post815268.html