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Tan Son Nhat – Binh Loi Highway – Update for May 2012

5 May
VNRE – Binh Loi bridge crossing the Saigon river is a part of  highway project from Tan Son Nhat – Binh Loi. Until now, the bridge was constructed to be 75 percent.

Tan Son Nhat – Binh Loi project is also being developed viaducts and branchs to connect with National Highway 13.

Here are some photos were taken today:

View the album on Google+.

Construction of Saigon Bridge 2 to begin

14 Apr
VNRE – Construction of Saigon Bridge 2 linking Binh Thanh District with District 2 in Ho Chi Minh City is likely to begin on April 14.

The People’s Committee of Ho Chi Minh City has granted investment licence of the project to the City Infrastructure Investment Joint Stock Company, to be implemented under the Build-Transfer (BT) method at a cost of nearly VND1.1 trillion (US$52.38 million).
According to the City Infrastructure Investment Company, the Saigon Bridge 2 project was scheduled to begin in the first quarter of 2012,   but slow land clearance in District 2 had caused various delays.
The 995 metre long, 23.5 metre wide, six-lane bridge will be built parallel to the existing Saigon Bridge and scheduled for completion within two years.
The new bridge is expected to reduce traffic pressure from the current Saigon Bridge, which was built more than five decades ago.
Construction of Saigon Bridge 2 is among several important traffic projects in the city. The Thu Thiem 2 Bridge, the Thu Duc intersection, Binh Tien Bridge are among the other important projects.
Reported by Q.Hung, Th.Binh, T.Huong | SGGP

New railway to connect Cambodia and Vietnam

27 Jul
VNREA new railway section connecting Cambodia with Vietnam will be built at an estimated cost of $686 million, transport officials said.

The 257-kilometre railway is part of larger rail system connecting six countries in the Greater Mekong Sub-region (GMS).

The section will link Kampong Speu province’s Oudong district in Cambodia with Tay Ninh’s Loc Ninh district in southern Vietnam.

A Chinese firm began a $3-million feasibility study for the Kampong Speu-Vietnam railway in July 2009.

According to the study, the project is expected to facilitate trade and economic development among GMS countries, especially for agricultural and mining industries.

In 2008, China pledged $500 million to help fund the Cambodia-Vietnam railway project.

In 2009, the Cambodian government signed agreements with Royal Group and Australia’s Toll Holdings to set up a joint venture that would operate the entire railway service in Cambodia for 30 years, at a cost of $145 million.

Source: Dan Tri

SCIC earmarks VND 2,500 billion for infrastructure

10 Jul
VNREState Capital Investment Corporation (SCIC) has earmarked VND 2,500 billion for infrastructural projects in the future, according to Deputy General-Director of the Corporation, Le Song Lai.

The infrastructural areas that SCIC focuses its investment on includes energy, urban areas, schools and hospitals.

Under researches of the UN Development Programme (UNDP), the rate of investment of a country in infrastructure should represent 3-5 per cent of the GDP.

However, Vietnam’s total investment in infrastructure during the past years often makes up 10 per cent of its yearly GDP, much higher than the suggested rate and regional countries.

Especially, a large majority of the investment in infrastructure comes from the State Budget and loans from international organisations, while little private capital is poured in such projects.

Source: By Thu Nguyen | QDND

Le Van Tam underground car park project still inactive

8 Apr
VNREThe construction of an underground car park at Le Van Tam Park was still lying idle half a year since the ground-breaking ceremony and nearly two years since the project owner was awarded the license from the city government.

The HCMC-based Investment, Development for Underground Space Inc. (IUS) as the investor explained that the progress had grounded to a halt due to formalities relating to the issuance of a land-use certificate, exemption of land use fee as well as a change to the project’s technical planning.

Le Tuan, chairman of IUS, said on Wednesday that the company was still carrying out the technical planning for the car park, while related departments of the city are still appraising land use fee exemption, a prerequisite condition for IUS to get the land-use certificate and construction permit.

“The city’s Finance Department is still confused in considering exemption of land use fee for the project’s underground space,” he told the Daily.

In August 2010, IUS broke ground for the project with an aim to build an underground parking space able to accommodate 2,000 motorbikes, 1,250 cars and 28 buses and trucks. IUS also promised to spend some VND43 billion to recover the green space of the park after the construction of its car park project whose cost was estimated at some US$110 million.

On August 18 last year, Tuan told a press conference that he expected to obtain a construction permit in early 2011, and would start construction on the project soon after for completion within 36 months. The project was to be commissioned in 2013.

Previously, in 2009, IUS had also signed a Build-Operate-Transfer contract with the HCMC government to develop the project.

Le Tuan of IUS said the company has now nearly completed construction planning for the project.

“We expect to complete the construction planning within May this year, and we also hope to obtain the land-use certificate and construction permit within next month so that we can start construction soon,” he said.

However, that prospect holds numerous uncertainties as the investor is asking for more incentives and business conditions for the project.

IUS has just asked the city’s Department of Transport to allocate an extra 1,340 square meters of land in the park for the company to build more entrances for its underground car park.

In a recent statement sent to the department, IUS said it wanted to have more land to build more pathways linking its underground parking space to Dien Bien Phu and Vo Thi Sau streets. Tuan said this is an additional land area that was not mentioned in the BOT contract.

He said building six lanes for vehicle going into and out of the car park would help ensure safety for the vehicles which will drive on separate entrances into and out of the underground car park.

“The separate lanes for cars and motorbikes will also ensure the smooth circulation of 600 vehicles per hour at the car park,” Tuan explained to the Daily on Wednesday.

However, Bui Xuan Cuong, deputy director of the transport department, said in a response to IUS late last month that the investor’s suggestion for building six entrances and exits went against the initial design of the project approved by the Ministry of Construction in 2006.

Earlier, the construction ministry and related agencies of the city had allowed for IUS to build only four pathways to the underground car park.

Another official of the department told the Daily on Wednesday that said if the car park has many entrances and exits, the common landscape of the whole Le Van Tam Park will be spoiled.

According to the basic design of the project approved by the construction ministry in 2006, the project would have total construction area of some 5.9 hectares with 70% for accommodating vehicles and 30% for trading and public services.

Reported by Van Nam | The Saigon Times

Hanoi-Lang Son highway a step closer

8 Apr
VNREThe final report of ADB-funded Hanoi-Lang Son highway project was recently submitted to the Ministry of Transport by the Oriental Consultants, Mott Mac Donald and APECO consultant consortium.

Accordingly, the highway will be around 160 kilometres long, consisting of four lanes in the first stage of investment which will be later upgraded into six lanes and cost an estimated $1.4 billion.

Construction will take place over 129km sections spanning from Huu Nghi border gate in northern Lang Son to Nhu Nguyet bridge in Bac Ninh province.

The remaining 30km sections from Nhu Nguyet bridge to Hanoi will involve upgrading existing roads to reach highway standards.

The highway’s 90km section in Lang Son will go across 20 communes in four districts and Lang Son city.

The Vietnam Expressway Corporation is the project developer.

Reported by Anh Minh | VIR

Work starts on $182.1 million bridge in Mekong Delta

8 Mar
VNREThe Ministry of Transport on March 7 started building a VND3.8 trillion (USD182.1 million) bridge, which will be among ten most modern in Vietnam.
Co Chien Bridge, 16km long, 16m wide and with four lanes, will replace Co Chien Ferry to link the Mekong Delta provinces of Ben Tre and Tra Vinh.

The project will be completed in two phases. The first with a projected cost of VND2.21 trillion (USD1.05 billion) to be sourced from the form of build-transfer-operation (BOT), and the second, expected to cost VND1.589 trillion (USD76.1 million), to be funded by the state budget.

Once completed, the bridge will shorten the travel distance from Ho Chi Minh City to Tra Vinh to just 80km as well as ease the traffic on National Highway 1A.

Co Chien, one of the four important bridges on National Highway 60, along with Rach Mieu, Ham Luong and Dai Ngai, is expected to boost the Mekong Delta region’s economic development.

The ground-breaking ceremony saw the attendance of Deputy Prime Minister Nguyen Sinh Hung, Deputy Prime Minister Truong Vinh Trong, Transport Minister Ho Nghia Dung and many other officials.

Reported by Huynh Hai | Dan Tri

Infrastructure boosts Can Tho real estate

12 Feb
VNREThe real estate market in Can Tho City is flourishing with price increases of between 10 and 15 per cent over last year, according to a report by Savills Viet Nam Ltd.
Savills, a 100 per cent foreign-owned company and the largest real estate consulting firm in Viet Nam, said the average price of land in Can Tho was about US$311 per square metre, up 10 per cent compared with last April.

Unfinished houses were priced at $515 per square meter, 15 per cent higher. Significantly, many recently launched housing projects sold out their products very soon, the report said.

Independent market observers have concurred with the report. They said that after being sluggish for a long time, the Can Tho real estate market had recovered strongly with an increasing number of successful transactions.

The Can Tho Housing Development and Trading Company, for instance, sold 300 house foundations within three days of offering them. This had never happened before, they said.

Construction and Investment Joint Stock Company No 8 also sold 500 houses recently under its Hung Phu project for the Petrol Vietnam Finance Company.

The number of people looking for opportunities to buy houses in the Hong Loan Property Company’s My Hung Urban Area and the My An Residential Project has also increased significantly early this year.

A representative of the Mekong Real Estate Company (Mekongland) said the number of real estate transactions as well as prices in Can Tho City early this year were about 15 per cent higher than figures recorded in late 2010.

Properties in the Hung Phu urban area were the most sought after, he said.

Analysts attribute the Can Tho real estate market’s recovery to the recent development of infrastructure in the city and surrounding areas that vastly improves access to and connectivity with the city.

A series of infrastructure development projects have already been completed, or are being implemented, including the Can Tho Bridge, the Tra Noc International Airport, the Dinh An Port and the Can Tho City-Chau Doc-Phnom Penh Express Way.

Many property investors from Ha Noi, HCM City and neighbouring provinces are looking for opportunities in Can Tho, giving the local market a boost.

Truong An Duong, head of Savills Viet Nam’s Market Research department, said Can Tho had many favourable conditions to develop its housing industry.

It had a large land fund that was also more easily amenable to planning new residential areas, Duong said.

He noted the city had nine projects that were selling unfinished houses and 10 others selling 11,000 land lots and 4,500 finished houses.

These numbers were still too small compared with the 1.2 million strong population of the Mekong Delta city, the Savills Vietnam report said.

The Nguoi Lao Dong(Labourer) newspaper has said city administration will replan the city to ensure it would have more than 40,000 hectares for housing development by 2030.

The paper also reported that an additional 25 housing projects covering a combined area of 1,000 hectares will be introduced to the market this year.

Can Tho City is inviting foreign and domestic enterprises to invest in projects like the construction of industrial parks, office buildings, apartment buildings and tourism properties, said Tran Thanh Man, chairman of the Can Tho People’s Committee.

Source: VNA

ADB okays US$1.1 billion for subway, freeway projects

18 Dec
VNREThe Asian Development Bank (ADB) has approved a US$1.1 billion financial package for two major transportation projects in Vietnam, comprising a metro route in HCMC and a freeway linking Long An and Dong Nai Province.

The regional lender will provide US$540 million towards a US$1.4-billion project to construct a second mass rapid transit line in HCMC, and US$636 million for a US$1.6 billion project to construct a modern expressway.

The bank’s financial support for the 11.3-kilometer metro line accounts for nearly 40% of the total cost estimate for the project. Other financiers of the project are the German development bank KfW and the European Investment Bank with US$313 million and US$195 million respectively, while Vietnam contributes the balance of US$326.5 million.

This metro line stretches from Ben Thanh in downtown HCMC, skirting Tan Son Nhat International Airport to Tham Luong. A 9.3-kilometer section of the line will run underground, while two kilometers will be elevated and transition track.

The Ben Thanh-Tham Luong section is part of Metro Line No.2 that starts from Tay Ninh bus station and crosses the Saigon River to Thu Thiem new urban area.

Approximately 213,000 passenger loadings per day are expected during the first year of operation in 2017, rising to 300,000 per day by 2020 and over 700,000 daily by 2035. The metro will reduce travel time along the corridor by 20% from 2010 levels.

Work has started on this line, with the first components being constructed at the Tham Luong terminal in District 12, comprising the surrounding wall and ground leveling.

The ADB-backed section will be constructed in coordination with other metro lines being developed in HCMC, the first of which has been significantly funded by the Japan International Cooperation Agency (JICA).

The other credit of US$636 million approved by ADB’s Board of Directors will go to the 57-kilometer expressway between Ben Luc in Long An Province and Long Thanh in Dong Nai Province. The modern expressway will further alleviate traffic congestion in the center of HCMC, while facilitating transport of goods between the major ports of the city.

When the expressway is fully opened to traffic in 2017, vehicles will be able to bypass the city center, reducing east-west travel time by 80%.

The Japanese government is expected to provide US$635 million for the US$1.6 billion Ben Luc-Long Thanh expressway project, while the Vietnamese government provides the remaining US$337 million.

Reported by Thu Nguyet | The Saigon Times

ADB helps ease HCM City traffic gridlock

14 Dec
VNREThe Asian Development Bank’s (ADB’s) Board of Directors has approved a 1.1 billion USD finance package for two major transportation projects in Vietnam that will help unclog Ho Chi Minh City’s overcrowded roadways.
The Manila-based financial institution said in a press release on December 14 that it will provide 540 million USD towards a 1.4 billion USD project to construct a second mass transit line in Ho Chi Minh City , and an additional 636 million USD for a 1.6 billion USD project to construct a modern expressway to the south of the city.

“These projects will significantly reduce traffic congestion, help lower traffic accidents, and abate carbon emissions,” James Lynch, Director of ADB’s Transport and Urban Transport Division for Southeast Asia, was quoted as saying.

The 11.3-kilometre metro rail line will stretch from Ben Thanh in central Ho Chi Minh City , near the city’s largest market, out past the Tan Son Nhat International Airport to Tham Luong. 9.3 kilometres of the mass transit line will run underground, with 2 kilometres of elevated and transition track. Approximately 213,000 passenger loadings per day are expected during the first year of operation in 2017, rising to 300,000 per day by 2020 and over 700,000 daily loadings by 2035.

The metro rail will reduce travel time along the corridor by 20 percent from 2010 levels, with traffic accidents expected to fall by 30 percent.

The ADB-backed metro rail line will be constructed in coordination with other metro rail lines being developed in Ho Chi Minh City , the first of which has been significantly funded by the Japan International Cooperation Agency.

The 57-kilometre expressway between Ben Luc and Long Thanh will further alleviate traffic in the centre of Ho Chi Minh City , while facilitating the transport of goods between the major ports of the city. When the full expressway opens in 2017, through-traffic will be able to bypass the city centre, reducing east-west travel time by 80 percent, with a 10 percent reduction in traffic accident rates.

According to ADB, the Government of Japan is expected to provide 635 million USD for the Ben Luc-Long Thanh Expressway Project, with the Government of Vietnam providing the remaining 337 million USD.

Other financiers of the Ho Chi Minh City Urban Mass Transit Line 2 Investment Program are KfW Bankengrupe (313 million USD), the European Investment Bank (195 million USD) and the Government of Vietnam (326.5 million USD).

Source: VNA