Ho Chi Minh City: 3 key traffic projects are assigned "huge" capital but disbursement is slow
As of September 2024, Ho Chi Minh City has 3 key transport projects allocated capital in 2024 up to thousands of billions of VND, but no project has disbursed more than 25%.
The Ho Chi Minh City Transport Construction Investment Project Management Board ( TCIP ) has just sent a report to the Department of Planning and Investment and the City Department of Transport on the implementation status of key projects and works in September 2024.
The reported data shows that there are 3 projects with large capital allocations but very low disbursement rates. Typically, the An Phu Intersection Construction Project in Thu Duc City has a total progress of 55% as of September 2024, while the disbursement rate of investment capital in this project is only 23%.
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| Construction of An Phu intersection - Photo: Le Quan |
In 2024, the An Phu Intersection Project was assigned public investment capital of VND 1,320 billion. However, due to slow disbursement, after review, it is likely that it will not be fully used, so the Department of Planning and Investment proposed to transfer VND 600 billion to another project.
This project was originally scheduled to be completed on April 30, 2025, but is expected to be delayed until December 2025.
According to TCIP's assessment, the project is behind schedule in both construction progress and investment capital disbursement compared to the plan. Therefore, the investor requires construction units to compensate for the progress by working overtime and increasing construction sites.
Another key project is Ho Chi Minh City Ring Road 3 (component project 1 - construction package) with a length of 47 km, the progress of 10 construction packages started in June 2023, reaching 24.1%.
For the 6 packages that started construction in early 2024, the progress has only reached 10%. In 2024, this project registered capital of 4,900 billion VND but so far only disbursed nearly 956 billion VND (reaching 19.5%).
According to TCIP 's assessment, the construction of the Ho Chi Minh City Ring Road 3 project is on schedule, but the disbursement rate has not been achieved because the completion of documents for disbursement is still slow. Furthermore, some items have to wait for a period of time, such as public roads, weak soil treatment, etc., so they are not eligible for acceptance.
In the Tan Son Nhat Airport area, the Tran Quoc Hoan - Cong Hoa road connecting project has 5 construction packages, with progress reaching 78% so far, expected to be completed in December 2024.
According to TCIP's assessment, the project is on schedule but the capital disbursement rate is slow at only 21.1%. The reason for the delay is that compensation and resettlement work has not been completed, so 400 billion VND cannot be disbursed.
This project was allocated 1,816 billion VND in capital in 2024. However, after reviewing the progress of implementation, the Department of Planning and Investment proposed transferring 1,490 billion VND to another project.
Source: https://baodautu.vn/tphcm-3-du-an-giao-thong-trong-diem-duoc-giao-von-khung-nhung-giai-ngan-i-ach-d224820.html
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