The project to solve tidal flooding in Ho Chi Minh City area taking into account climate change factors (tidal prevention project) is a BT (build-transfer) project with a total investment of nearly 10,000 billion VND.
The goal is to control flooding caused by high tides and proactively respond to climate change for an area of 570 square kilometers with about 6.5 million people in the right bank of the Saigon River and the center of Ho Chi Minh City.
On May 27, 2016, the City People's Committee signed the BT Contract with the investor, Trung Nam Construction Investment Joint Stock Company, and the project enterprise, Trung Nam BT 1547 Company Limited.
Started in June 2016, the project was expected to be completed after 2 years of construction. However, after more than 8 years, the project has faced 4 construction stops and has not yet reached the finish line, which means it is 7 years behind schedule. This urgent project is still "shelved" while the flooding caused by tides is increasing.
In addition, the barriers from the completed sewer sections of the project also accidentally blocked the flow, causing garbage congestion in many areas of the canal, causing wastewater and garbage to float and give off a foul smell. City residents could not help but feel dismayed when witnessing the project stopped nearly 4 years before the finish line.
When asked about the 10,000 billion VND flood prevention project of Trung Nam Company, people seemed to have forgotten about this project and no longer expected anything.
Currently, the project is under the monitoring of the Central Steering Committee for Anti-Corruption, Waste and Negativity.
Investors believe that even if the project's capital is cleared and construction continues, the additional profit will be about 845 billion VND.
Specifically, if the project continues, it will take a total of 28 months, including 12 months for investment adjustment procedures, 4 months for negotiating the BT Contract Appendix and 12 months for construction.
Sharing about the project's difficulties, according to Mr. Do Quang Hung, Head of the Public-Private Partnership Department, Department of Planning and Investment, the biggest problem of this project is capital. To complete the project, the investor said it needs to mobilize an additional 1,800 billion VND.
Mr. Hung said: Currently, the Prime Minister has directed to consult relevant ministries and branches on the proposals of Ho Chi Minh City to remove obstacles for the project, so there is no final consensus yet.
In the context of Ho Chi Minh City increasingly facing flooding due to increased high tides, it is urgent to resolve the project's obstacles to avoid prolonging the situation of huge capital increase and great waste, while at the same time meeting the urgent needs of the people in flood prevention work.
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