Construction contract of Binh Trieu 2 Bridge terminated prior to term

The Office of Ho Chi Minh City People’s Committee yesterday said that Deputy Chairman of the Municipal People’s Committee Vo Van Hoan approved the Department of Transport’s proposal related to the termination prior to the BOT contract term of the second phase of Binh Trieu 2 Bridge Construction Project. 
Binh Trieu 2 Bridge, Road Project
Binh Trieu 2 Bridge, Road Project

Accordingly, the Department of Transport is in charge of promptly consulting  the city People's Committee on draft documents to report to the Prime Minister on the termination of this signed contract, assigning the Municipal People's Committee to balance the city budget to continue to invest in the project in accordance with the regulations, complete and put into the project into exploitation soon. 

The Department of Internal Affairs urgently proposes and submits to the City People's Committee for establishment of an inter-agency working team to negotiate with the enterprises concerning to the termination the signed BOT contract before the deadline.

The Department of Transport coordinates with the Ho Chi Minh City Infrastructure Investment Joint Stock Company to select a qualified and experienced independent auditor to audit the value of investment capital of the construction project under the list of auditing firms eligible for providing audit service, announced by the Ministry of Finance according to the regulations; the company thereby will carry out procedures for signing contract, auditing finalization reports to do the next steps.

The Transportation Works Construction Investment Project Management Authority of Ho Chi Minh City is responsible for inspection and confirmation of the volume and value of the finalization report issued by the Ho Chi Minh City Infrastructure Investment Joint Stock Company, which checked the completed volume of the project according to regulations, fully made the files from the audit result report of the independent auditing unit, to submit the verification and approval of the balance-sheet in accordance with the regulations.

After receiving the Prime Minister's opinion on termination of the contract and approval of the final settlement of investment costs, the Department of Transport shall preside and coordinate with the Municipal Department of Planning and Investment, the Department of Finance and the inter-agency working team to negotiate and terminate the signed BOT contract in advance the contract term.

The City Department of Planning and Investment shall host and coordinate with the Department of Finance to urgently propose the procedures for payment to investors.