Master planners assigned for HCMC's North-South axis road

                                                          Photo: IPC

Three potential investors to draw up plans for key infrastructure project in city.

The Ho Chi Minh City People’s Committee has approved a cooperative arrangement between the Tan Thuan Industrial Promotion Company, the VIPD Group, the Tuan Loc Investment Construction Corporation, and the An Phu Corporation to prepare a master plan for the city’s North-South axis road.

The road runs from Hoang Dieu Road in District 4 to the Nguyen Van Linh Highway in District 7, Ba Chiem Bridge in District 7, and the Hiep Phuoc Port Urban Area in Nha Be district and will be built under the build-transfer (BT) form.

When completed, the Hiep Phuoc Port Urban area will cover 1,354 ha in Binh Chanh district and border the Hiep Phuoc Industrial Park and port to the east, Long An province’s Can Giuoc district to the west, the Soai Rap River to the south, and the Dong Dien River and Long Thoi commune to the north. 

The North-South axis road was defined in the “Transportation Planning by 2020 and Vision after 2020 of Ho Chi Minh City” plan and has been approved by the government. It aims at facilitating urban traffic flows and linking belt roads to create an uninterrupted traffic link between internal and external roads.

The People’s Committee recently announced it has assigned the Thai Son Group and the VIPD Group to prepare a master plan for Thu Thiem No. 3 Bridge and expand Ton Dan Road in District 4 under the BT model.

It also asked the government for permission to plan for the construction of the Thu Thiem No. 4 Bridge under the BT form and has selected three investors: the Phat Dat Real Estate Development Corporation, the 620 Infrastructure Development and Investment Corporation, and the 168 Construction and Development Corporation.

The Tan Thuan Industrial Promotion Company was established in 1989 with the initial aim of setting up export processing zones in order to boost Ho Chi Minh City’s socio-economic growth.

The Tan Thuan Export Processing Zone was its first project, followed by the Phu My Hung new urban area. These were also the first infrastructure projects in Vietnam to attract foreign investment.

The VIPD Group has become one of the city’s premier corporations with key businesses in financial investment, infrastructure, and property development.

The company’s diversified real estate portfolio consists of investment-grade commercial properties and residential and mixed developments in prime locations such as Districts 1, 3, 5, and 7 and Binh Chanh as well as hotels, resorts and high-end restaurants in major cities such as Hanoi, Da Nang, Nha Trang, and Phan Thiet.

by Ngoc Chi / vneconomictimes.com