HCM City seeks investment for HCM City-Moc Bai Expressway project
After reaching a consensus with the People’s Committee of Tay Ninh Province, the HCM City People’s Committee has petitioned the PM and Ministry of Transport for permission to call for investment for the HCM City-Moc Bai Expressway project.
|The HCM City – Moc Bai Expressway is expected to improve economic development in Tay Ninh Province. — Photo tphcm.chinhphu.vn|
The expressway, which will be nearly 53.5 kilometres long, will link Ring Road No 3 in HCM City’s Hoc Mon District with Moc Bai, an international border gate between Vietnam and Cambodia in the southeastern province of Tay Ninh.
The expressway project will be divided into two investment phases under Public-Private Partnership and Build-Operate-Transfer models, according to a statement from the HCM City People’s Committee issued earlier this week.
In the first phase, the entire expressway will be built with four lanes. The total capital for the phase is expected to be nearly VND10.7 trillion (US$461.6 million) under the PPP investment.
In the second phase, the number of lanes will be increased to eight on a section extending from Ring Road No 3 in HCM City’s Hoc Mon District to Trang Bang District in Tay Ninh Province. A section from Trang Bang District to Moc Bai will be increased to six lanes.
The HCM City People’s Committee will be in charge of compensation for ground clearance in the city, while the Tay Ninh Province People’s Committee will be responsible for compensation in the province.
To generate revenue for the project, the HCM City People’s Committee has asked the Prime Minister for permission to expand ground clearance at intersections between the expressway and Ring Roads No 3 and 4 as well as to other sites in order to build logistic stations and commercial and service malls.
The city also wants permission to develop plans for urban areas near neighbouring areas at expressway intersections.
The expressway is expected to ease traffic congestion and create favourable conditions for industrial parks and export processing zones in Tay Ninh Province, especially the Moc Bai Border Gate Economic Zone.
HCM City and Tay Ninh Province are among eight provinces and cities in the southern key economic zone.
HCM City’s gross regional domestic product accounts for 42 per cent of the country’s total GDP.
The Moc Bai international gate in Tay Ninh Province has international exchanges with Cambodia and Thailand.
Highway No 22 is the only road linking HCM City with Moc Bai. A survey conducted in 2017 showed that 39,700 vehicles traveled on the highway each day, and that its designed loading capacity was 40,000 per day.
Construction of the HCM City-Moc Bai Expressway is slated to be completed by 2025 with at least four lanes and expanded to six or eight lanes by 2045.