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HCM City requires over 42 billion USD for transport infrastructure upgrades

by VNA12 June 2021 Last updated at 07:00 AM

Photo for illustration
Photo for illustration

VTV.vn - The HCM City People’s Committee has issued a plan to implement the city's transport infrastructure upgrade project in the 2021-2030 period, which will require investment of 970.6 trillion VND (42.3 billion USD).

About 399.7 trillion VND will be funded by the State budget and the remaining nearly 571 trillion VND will come from other capital sources.

Under the plan, in the 2021-2030 period, the city will invest in over 650km of roads, 211km of railroads, 81 big bridges, 15 major intersections, and seven projects under the Smart Cities program. It will also complete highways and national routes connecting the city with the Key Southern Economic Zone.

During the 2021-2025 period, the city will prioritise key and urgent projects with total investment capital of over 553 trillion VND (24 billion USD), of which the State budget will provide 181 trillion VND and other capital sources 372 trillion VND.

The key and urgent projects for the 2021-2025 period include the HCM City-Moc Bai Highway, Ring Roads No 2 and 3, National Highways No 1, No 22, No 50, and No 13, several elevated roads, main intersections and bridges in high-density urban areas.

A number of key and urgent infrastructure works will be completed by the end of this year, mostly in Thu Duc city.

The city has set a target of raising the ratio of traffic land to urban land to 12.76 percent in 2021, and the average density of roads out of the city’s land area reaching 2.26 km per sq km.

The HCM City People’s Committee has requested that sectors and localities develop specific programs, plans, and projects on infrastructure development as part of their annual and five-year socio-economic development plans in the periods from 2021-2025 and 2026-2030 to ensure the effective implementation of the transport infrastructure upgrade project.

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