HCM City eyes private investment for widening street

HCM City authorities are calling for private investment to widen Nguyen Duy Trinh Street in District 9, which runs up to Phu Huu Port.


HCM City eyes private investment for widening street, social news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, Vietnam net news, Vietnam latest news, vn news, Vietnam breaking news

HCM City authorities are calling for private investment to widen Nguyen Duy Trinh Street in District 9, which runs up to Phu Huu Port. - Photo tuoitre.vn



Tran Vinh Tuyen, deputy chairman of the city People’s Committee, who visited the street for a first-hand look on Thursday (March 1), said it needs to be widened to improve traffic but also create favourable conditions for enterprises operating in the vicinity of Phú Hữu Port.

So they should share the responsibility with the authorities, he said.

“The current problem is lack of funds. So, the city is looking for private investors to fund this project.”

Though the city has otherwise temporarily stopped BT projects pending a review, Tuyen instructed the Department of Transport to study the project and make a report to the People’s Committee for carrying it out in BT mode.

The International Transportation and Trading Joint Stock Company will lend the city VNĐ 300 billion (US$13.5 million) without interest for three years for the project.

Nguyen Duy Trinh will be widened to 30m.

It now has only two lanes and is just 7m wide. It is invariably clogged during rush hour and this also affects nearby areas such as the streets leading to Cat Lai Port and the Hanoi Highway. – VNS

HCM City eyes private investment for widening street, social news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, Vietnam net news, Vietnam latest news, vn news, Vietnam breaking news
 
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