Previously, senior lieutenant-general Be Xuan Truong, Deputy Minister of Defense, signed Document 1310 reporting to the Prime Minister about financial assistance to reclaimed defense land at No.2 Ton Duc Thang street, District 1.
According to the document, the ministry proposes HCMC People’s Committee to consider and give financial assistance to the land withdrawal, have compensation measure to assets on land in the area and support part of removal costs with the total funds of VND104.291 billion (US$4.48 million).
So far, HCMC has provided VND23.793 billion (US$1.02 million) as part of asset compensation and removal cost without money support to the withdrawn land.
The city People’s Committee sent Document No.955 to the Prime Minister on October 23, 2018, proposing not to give financial assistance to the withdrawn land. So it suggested the ministry to report to the Prime Minister to consider and make a decision.
The ministry has committed to always supporting and facilitating HCMC’s socioeconomic development including construction of traffic infrastructure works.
Hence it is about to hand over part of the premise to the city People’s Committee to ensure the project’s progress and soon open it to traffic to ease traffic jam.
Thu Thiem 2 Bridge project has the total length of 1,465 meters starting from Ton Duc Thang-Le Duan crossroads in District 1 and ending at R1 Road in Thu Thiem new urban area in District 2.
Total investment capital of the project is VND4,269 billion ($183.47 million) and investor is Dai Quang Minh Real Estate Investment Corporation under BT (Build-Transfer) form.
The project is expected to be built at the end of 2019 but the work volume has approximated only 20 percent so far. In District 2 side, approach road and bridge abutments have been done. Still construction in District 1 side is limited due to site clearance.