$29M for HCM City’s transport system
Ho Chi Minh City will need more than 410.2 trillion VND to implement a transport development plan until 2020.
The plan, that has been approved by the Prime Minister, includes the upgrade of six highway sections and the building of six motorways, four elevated expressways and 79 multi-level intersections. The city will also build 22 big bridges and two river tunnels.
As part of the plan, the HCM City ’s Transport and Public Works Department Tran Quang Phuong and the Phu My Bridge BOT Joint Stock Company on March 12 signed a memorandum of understanding on building the Sai Gon 2 bridge at a cost of more than 100 million USD.
Under the MoU, the Phu My Bridge BOT Joint Stock Company will be responsible for conducting research, designing and building the six-lane bridge in the Build-Operate-Transform (BOT) model.
The construction of the bridge will start at the end of this year and is expected to complete in 2010.