07:50:44 - 23/02/2017
HCMC – The government of HCMC and Trung Nam Construction Investment Corp. have signed a build-transfer (BT) flood tide control project worth a staggering VND10 trillion (US$446.2 million).
Motorcycle riders travel on a road submerged by flood tides in HCMC. The government of HCMC and Trung Nam Construction Investment Corp. have signed a build-transfer (BT) flood tide control project worth a staggering VND10 trillion – PHOTO: THANH HOA HCMC – The government of HCMC and Trung Nam Construction Investment Corp. have signed a build-transfer (BT) flood tide control project worth a staggering VND10 trillion (US$446.2 million).
Work will start on the project this month and take three years to complete. The project will cover around 570 square kilometers in the city’s downtown area which is home to 6.5 million people.
Trung Nam will construct six large sluice gates in Ben Nghe, Tan Thuan, Phu Xuan, Muong Chuoi, Cay Kho and Phu Dinh with a width of 40 to 160 meters each, and three water pumping stations in Ben Nghe, Tan Thuan, and Phu Dinh with a capacity of 12 cubic meters, 48 cubic meters, and 36 cubic meters per second respectively.
A 7.8-kilometer riverside dyke stretching from Vam Thuat to Song Kinh, 25 small sewers, and a project management center will be constructed. These components will cover around 100 hectares in districts 1, 4, 7, 8, Nha Be and Binh Chanh.
Trung Nam has 11 years’ experience in power, real estate, infrastructure and construction sectors.
The city is calling for the private sector to join flood control projects under the public-private partnership (PPP) format, including build-transfer (BT), as the State budget cannot cover huge funding for them.
The city will have to spend a total of VND156 trillion (US$7 billion) on flood control projects, including VND88 trillion (US$3.02 billion) for sewage systems and VND68 trillion (US$3.03 billion) for dykes in the next five years, the city government said at a session of the HCMC People’s Council at the end of last year.
Due to financial constraints, the city often adopts the land-for-infrastructure format when it comes to raising funds for projects to build tide control sluices, dykes, wastewater treatment plants, and reservoirs. But a shortage of available land is putting pressure on the city government.
