This is part of the North-South axis road project, one of five key projects to upgrade and expand existing roads under the BOT (build-operate-transfer) model, promoted by Ho Chi Minh City thanks to the special mechanism from Resolution 98.
The North-South axis route (Nguyen Huu Tho street) from Nguyen Van Linh intersection to Ben Luc - Long Thanh expressway, has a total length of 8.6 km. During the pre-feasibility study, the consulting unit considered two upgrade options.
Option 1 is to build a low-level road, including 10 lanes and overpasses at intersections, with a total investment of about 7,423 billion VND. However, this option will cause many traffic conflicts due to intersections with the inner city and difficulty in improving connections with areas along the route.
Option 2 is to build a 7.8 km long elevated road with 4 lanes, combined with a parallel road with 3 lanes on each side below. At the same time, build a new Nguyen Van Tao intersection with Ben Luc - Long Thanh expressway.
This option has a total investment of VND8,483 billion, higher than the low-speed option, but will help inter-regional traffic be seamless, fast and improve traffic connectivity with areas along the route.
The consultant proposed to choose option 2 because it is more effective in reducing congestion, increasing inter-regional traffic capacity and better connecting with the areas on both sides of the road.
The total investment capital of the project is VND8,483 billion, of which about VND6,304 billion (accounting for 74%) will be mobilized from BOT capital, the remaining VND2,179 billion from the Ho Chi Minh City budget to clear the land, build parallel roads and Nguyen Van Tao intersection connecting with Ben Luc - Long Thanh expressway.
A major advantage for this project is that most of the required land area has been acquired earlier in the initial investment phase, helping to speed up progress. Currently, the project's site clearance cost is only about VND560 billion.
Mr. Tran Quang Lam - Director of the Ho Chi Minh City Department of Transport, - said that among the 5 gateway BOT projects, the North - South axis road upgrade project can start construction soonest because 90% of the necessary procedures have been completed.
It is expected that the project's pre-feasibility study report will be completed in the fourth quarter of 2024 and submitted for approval, for implementation from 2025 to 2028.
Upon completion, the North-South axis route will not only reduce traffic congestion in the southern region, but also create momentum for infrastructure development, connecting key traffic routes such as Ring Road 2, Ring Road 3 and Ben Luc - Long Thanh Expressway with Hiep Phuoc Port and key industrial parks in Ho Chi Minh City and Long An.
