Elevated roads fail to attract investors
The four highways were approved by the Government in 2007. The first will pass through districts 1, 3, Tan Binh, Phu Nhuan, and Binh Thanh; the second through districts 3, 6, 10, 11, Tan Binh, and Binh Tan; the third through districts 1, 3, 4, 5, 7, 8, 10, and Binh Chanh; the last through districts 12, Binh Thanh, and Go Vap.
After failing to attract interest the project is being tweaked for fresh consideration by the Ministry of Transport and Primer Minister.
"The city is considering incentives to attract investors because under the current model of fee collection, investors will only recoup 15-20 per cent of their capital," Bui Xuan Cuong, director of the Department of Transport, has been quoted as saying by Sai Gon Giai Phong (Liberated Sai Gon) newspaper.
The elevated roads are expected to reduce accidents, ease congestion by 90 per cent, increase the area available for commercial activities, and create a proper transport environment.
"Designers should consider harmonising transport infrastructure and the space available in the city," Dr Vo Kim Cuong, an executive at the HCM City Master Planning and Development Association, said.
Ten years ago South Korea’s GS E&C was hired to design an elevated road above the Nhieu Loc – Thi Nghe canal, but it withdrew due to a cash crunch.
