Bond backing sought for HCMC-Dong Nai connecting road

The Ministry of Planning and Investment is seeking Government bonds funding for a road construction project linking HCMC’s District 9 with Dong Nai Province’s Nhon Trach District during the 2011-2015 period.

The Ministry of Planning and Investment is seeking Government bonds funding for a road construction project linking HCMC’s District 9 with Dong Nai Province’s Nhon Trach District during the 2011-2015 period.

The ministry in a report to the Government said the 2.2 km road costing VND8 trillion would play an important role in regional transport.

The Ministry of Transport is the investor of the project while HCMC and Dong Nai Province authorities would take charge of site clearance and compensation. The transport ministry also suggested calling for investment in a river bridge, as part of the road project, under BOT (build-operate-transfer) form.

The connecting road is part of the Government’s plan to expand Nhon Trach new urban area from 6,000 to 11,000 hectares to become a key industrial, commercial and service center in the southern region. The plan also includes road and bridge projects such as HCMC-Long Thanh-Dau Giay, Bien Hoa-Ba Ria-Vung Tau expressways and the connecting road.

In addition, the ministries have suggested Dong Nai Province’s government to complete investment procedures for an inter-port road project with the total investment of VND2.25 trillion. The province will also suggest the project be funded by government bonds for the 2011-2015 period.

(Source: SGT)