`Six years ago, the largest tidal flood prevention project ever in the city started construction. As excited as we were, now we are disappointed, because the project is constantly late,` Mr. Pham Thanh
Recalling the high tide peaking at more than 1.6 m in early November last year, Mr. Thanh said that in many parts of Tran Xuan Soan street, the water rose half a meter, disrupting traffic and people’s activities and businesses.
According to the city’s Department of Construction, Tran Xuan Soan street along with Le Van Luong and Highway 50 are three of the four main roads in the city that have been flooded due to high tides and have not been resolved.
Flooding on Tran Xuan Soan street due to high tide, November 2021.
The above tidal prevention project is invested by Trung Nam BT 1547 Company Limited in the form of BT (build – transfer).
Started in mid-2016, the project is expected to be completed on April 30, 2018 to help control tidal flooding and respond to climate change for an area of 570 square kilometers with about 6.5 million people on the right bank of the Saigon River and
The main problem of the project is related to the payment plan for investors.
In addition, Decree 15 requires reporting to the competent public investment agency to decide on the policy of using state capital before approving a PPP project.
Last April, the Government issued a resolution to remove obstacles and approve the city to continue implementing the project according to a specific mechanism to ensure economic benefits and avoid wasting invested resources.
Regarding investment capital, the Government assigned the Ho Chi Minh City People’s Committee to agree with the State Bank and BIDV Bank on refinancing loans to implement the project.
Construction site of Tan Thuan culvert – one of 6 tidal sluice gates in the project, on the afternoon of March 25.
However, after a year of being cleared by the Government, the work has not progressed yet because the BT contract appendix has not been signed.
Prolonged construction stoppage causes many consequences and incurs large costs.
Mr. Tran Nhu Quoc Bao, Deputy Director of the Urban Infrastructure Construction Investment Project Management Board, said that the City People’s Committee has worked with relevant ministries and the State Bank to support the project’s early completion.
`Along with negotiations, the city is reviewing proposals for a number of land funds to pay investors,` Mr. Bao said, adding that Ho Chi Minh City aims to have the project completed this year, with final settlement completed.
According to the leaders of the City Urban Infrastructure Construction Investment Project Management Board, although the time is long, the quality of the project is not much affected and the total investment does not increase compared to before.