City seeks $15b for road development
City seeks $15b for road development
HCM City plans to mobilise capital through BOT (Build-Operate-Transfer), BT (Build-Transfer) and PPP (Public-Private Partnership) investment forms to further develop its road infrastructure, a senior official said last week.
Speaking at a conference on road development plans until 2020, Le Do Muoi, deputy head of the Institute of Strategy and Development under the Transport Ministry, said the city needed about VND326 trillion (US$15.4 billion) to implement all the road projects planned.
Muoi said that in the 2013-15 period, the city would need more than VND71 trillion ($3.35 billion) for its transportation projects. Of this amount, VND45 trillion ($2.12 billion) would be used for roads, VND21.17 trillion ($1 billion) for railways, VND2.75 trillion ($130 million) for waterways and VND1.6 trillion ($75.58 million) to develop air routes.
Bui Xuan Cuong, deputy director of the HCM City Department of Transport, said given its limited budget, the city needed to mobilise capital from diverse sources.
The city plans to build one more tunnel under the Sai Gon River and 14 new bridges crossing it. It will also build monorail and metro systems, upgrade the Tan Son Nhat International Airport and remove many ports to outskirts areas.
It will also upgrade or expand five expressways: the 55km six-to-eight-lane HCM City-Long Thanh-Dau Giay expressway; the 69km six-to-eight lane HCM City – Thu Dau Mot – Chon Thanh expressway; the 55km four-to-six lane HCM City – Moc Bai expressway; the 58km six-to-eight lane Ben Luc-Long Thanh expressway; and the 76km six-to-eight Bien Hoa – Vung Tau expressway.
The HCM City – Trung Luong expressway will be expanded to eight lanes under the plan.
The city will also build five four-lane flyovers with a total length of 70.7km, eight metro routes, mostly underground, in the inner city. The first of six Bus Rapid Transit routes running along Vo Van Kiet Avenue is expected to be completed next year.
The plan estimates the land fund required for road infrastructure development until 2020 at 22,305ha, or 22.3 per cent of the city's total land needs for construction.
By 2020, public transportation (bus, metro, taxi) would account for 20-25 per cent of commuting in the city, the plan envisages.
The planned upgrade to the Tan Son Nhat International Airport will increase its handling capacity to 23.5 million passengers and 600,000 tonnes of cargo every year.
Construction of the Long Thanh International Airport in Dong Nai Province will start in 2015.
vietnamnews
