On March 13, Mr. Dang Van Minh, Chairman of the People's Committee of Quang Ngai province, has just sent a report to the Provincial People's Council on the decision on the investment policy of the Infrastructure Investment Project to serve the development of An Phu New Urban Area (Pearl Island), Quang Ngai City.
Quang Ngai Provincial People's Committee submitted to the Provincial People's Council for consideration and promulgation of a Resolution on investment policy for the Infrastructure Investment Project to serve the development of the new urban area of An Phu (Pearl Island), so that the Provincial People's Committee has a basis to implement the next steps of the project.
Mr. Dang Van Minh, Chairman of Quang Ngai Provincial People's Committee.
The project aims to develop Quang Ngai City to the Northeast in the direction of a riverside urban area. Gradually complete the synchronous traffic network in the province according to the approved planning; enhance the connectivity and traffic from the two banks of Tra Khuc River to the center of Ngoc Island as well as traffic connection between the two banks of the river of Quang Ngai City, promote the expansion and development of Quang Ngai City's urban space to the East, 2 directions of Tra Khuc River.
This project also creates an architectural highlight, building a symbol for Quang Ngai City to create a real riverside urban area, changing the appearance and stature of this City in the future.
Maximize the investment efficiency of projects that have investment policies approved by competent authorities, relocate and ensure the safety of people in An Phu village to new places with better living conditions, especially during storms.
Initial infrastructure investment to call for investment in a new modern, synchronous urban area in the region with projects that have investment policies from competent authorities, exploit land resources reasonably, and increase revenue for the budget.
This project will invest in bridges and roads connecting the area with Truong Sa and Hoang Sa streets; embankments, compensation, site clearance; resettlement according to the approved detailed planning with an area of about 163 hectares.
This is a group A project, with an investment of about 3,800 billion VND.
Meanwhile, Mr. Nguyen Cong Hoang, Director of the Department of Construction of Quang Ngai province, informed that the land use demand of this project is 163 hectares (which will be determined precisely during the architectural competition, selection of items, and the most effective investment solution to establish the project).
Quang Ngai expects to earn more than 1,670 billion from the Pearl Island project.
However, to clear the entire Pearl Island, it is necessary to build the Tan My 1 resettlement area, with an area of about 77 hectares.
Therefore, to facilitate the organization of environmental impact assessment of the project, the Department of Construction proposes to adjust the project land use demand to about 240 hectares (including: Land area of the New Urban Area of about 163 hectares and Tan My 1 resettlement area of about 77 hectares).
Regarding socio-economic efficiency, according to the Pre-Feasibility Study Report, which has been calculated with the planned residential land area formed after investment according to the approved detailed planning at a scale of 1/500 and referring to the residential land price in the area, the total expected revenue after auctioning the entire area of the Clean Land Fund is about 5,470.686 billion VND, minus the investment cost of 3,800 billion VND, the remaining amount to be paid to the provincial budget is expected to be about 1,670.69 billion VND.
In the step of preparing the Construction Investment Feasibility Study Report, the Investor will survey and evaluate land prices in the area, as a basis for determining financial efficiency after project investment, and submit it to competent authorities for appraisal and approval according to regulations.
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