The project to expand a 1.6km road in Ho Chi Minh City has increased its capital by more than 1,000 billion VND.

The project to upgrade and expand Nguyen Duy Trinh Street, previously with an investment capital of more than VND832 billion, has been increased to more than VND1,859 billion, a group A project, and will be completed before 2028.

At the 4th session of the 10th term Ho Chi Minh City People's Council, which opened on the morning of September 29, the delegates of the Ho Chi Minh City People's Council approved the proposal of the City People's Committee to adjust the project to upgrade and expand Nguyen Duy Trinh Street - the section from Ring Road 2 to the entrance to Phu Huu Industrial Park.

The total investment of this project has been increased from VND 832,249 billion to VND 1,859,183 billion. The investment period has also been changed from 2017-2021 to 2017-2028.

The project to upgrade and expand Nguyen Duy Trinh Street has increased its capital by more than VND1,000 billion. (Illustration photo: Luong Y)

The project to upgrade and expand Nguyen Duy Trinh Street (old District 2), now in Long Truong Ward, previously had a total investment of VND 832,249 billion, is a group B project, expected to be invested and completed in the period from 2017 to 2021. However, it has not yet been implemented due to the inability to carry out compensation and site clearance.

According to the submission of the Ho Chi Minh City People's Committee, the increase in total investment is due to updating and supplementing the costs of compensation, support, and resettlement (according to land law regulations at the time of submitting the proposed adjustment dossier), costs of technical infrastructure relocation, construction costs, project management... according to current regulations.

Of which, the cost of compensation, support, resettlement, and relocation of technical infrastructure is more than 1,506.5 billion VND, an increase of 998.597 billion VND compared to the previous estimate and exceeding the total investment of the project for which the competent authority has decided on the investment policy.

After increasing the investment capital, the project was also transferred from group B to group A, the investor is the Project Management Board for Investment and Construction of Traffic Works. The project is expected to start and complete from the 4th quarter of 2026 to the 4th quarter of 2027.

Nguyen Duy Trinh Street was considered a traffic black spot in the Thu Duc City area in the past and is a road with a large traffic volume, always in a state of traffic congestion and is also a road where traffic accidents frequently occur due to the large daily traffic volume.

At the 4th session, the Ho Chi Minh City People's Council will consider and resolve many important issues related to the city's socio -economic development.

Ha Linh

Source: https://vtcnews.vn/du-an-mo-rong-duong-1-6km-o-tp-hcm-doi-von-hon-1-000-ty-dong-ar968082.html