US$1.3 bln invested into North-South overhead road

SGGP 25/12/2021 12:23

The Department of Transport of Ho Chi Minh City said that the Municipal People’s Committee approved assignment for investors to study and make the proposal of building overhead road No.5, at a section from the intersection of Station 2 in Thu Duc City to An Suong intersection and the North-South overhead road project from Cong Hoa Street to Nguyen Van Linh Street under the public-private partnership (PPP) form.

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Accordingly, Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) was responsible for studying to build the proposal of North-South overhead road investment and construction project with an estimation capital of VND30,000 billion (US$1.3 billion) in the form of public-private partnership (PPP) from enterprises' financial source within six months since the date of assignment.

Besides, IDICO Infrastructure Development Investment Joint Stock Company also proposed to study and invest in the project of overhead road No. 5.

The two projects are on the list of works in Ho Chi Minh City calling for investments in the period of 2021-2030 under BOT contracts.

By Quoc Hung- Translated by Huyen Huong