HCMC – HCMC Infrastructure Investment JSC (CII) has proposed developing a 14-kilometer elevated road that connects the north and the south of the city.
The road will require an estimated VND38.2 trillion, over VND8 trillion higher than earlier proposed. Of the figure, VND19 trillion will be spent on site clearance and VND19.2 trillion on road construction.
The road will start at Cong Hoa Road in the north and end in the Saigon South urban area in the south. It will pass through the Tan Son Nhat International Airport area and the downtown area.
Some 12,100 hectares of land would be cleared in districts 1, 3, 5, 8, 10 and Tan Binh, with nearly 1,200 households affected.
The public-private partnership with a build-operate-transfer contract is sought for the project.
The road is designed to have three sections. The first section will be 3.4 kilometers long, stretching from the Cong Hoa-Truong Chinh Intersection to the Lang Cha Ca Intersection.
The second section, 2.6 kilometers, will run from the Lang Cha Ca Intersection to the Bac Hai-Thanh Thai T-junction, and the third section, which will have a length of 8.1 kilometers, will link the T-junction and Nguyen Van Linh Street.
CII proposed the municipal government divide the project into two separate components. The site clearance and resettlement component would use the State budget, while the road construction component will be executed within 36 months, after the first component is completed.
The total capital needed for the second component will be more than VND21.4 trillion, including VND2.2 trillion in interest arising during the execution process.
CII also sought the city’s approval to develop a serviced apartment building along the elevated road at the Nguyen Kieu Island in District 4 to mobilize capital for the elevated road project, create a hallmark for the project and use the land fund effectively.
Another building for the operating center and offices for lease along the road at the Thanh Thai-Bac Hai T-Junction was also proposed. After 49 years, these buildings will be handed over to the city.