Ho Chi Minh City proposes to spend 1,850 billion VND of budget capital to invest in Phan Dinh Phung stadium.

Phan Dinh Phung Stadium project, after ending investment under the BT form, is proposed to be invested with Ho Chi Minh City budget capital with a capital of 1,850 billion VND.

Phan Dinh Phung Stadium project, after ending investment under the BT form, is proposed to be invested with Ho Chi Minh City budget capital with a capital of 1,850 billion VND.

The Department of Culture and Sports of Ho Chi Minh City has just sent report No. 5955/BC-SVHTT to the City People's Committee, the City People's Council and the Department of Planning and Investment on the Pre-feasibility Study Report for the Project to build Phan Dinh Phung Sports Center, District 3 (referred to as Phan Dinh Phung Gymnasium Project).

According to the report, the project is invested in the 14,417 m2 land area of the old Phan Dinh Phung stadium, in District 3, Ho Chi Minh City.

The project is expected to build 3 floors above ground and 3.5 basements, with a total maximum construction floor area (including underground space) of 59,679 m2 and a building height of 28 m.

Phan Dinh Phung Stadium will meet the needs of training and competing in 13 sports such as volleyball, basketball, fencing, badminton... The stands are designed with 4000-5000 seats.

The project has a total estimated investment of 1,850 billion VND, invested with the City budget.

The land for the construction of Phan Dinh Phung stadium has been left to waste for many years in the center of Ho Chi Minh City - Photo: Le Toan

Project implementation period is from 2024-2029. In 2024, a pre-feasibility study report will be prepared and submitted for approval. In 2025, architectural design competition (if any) will be held; feasibility study report will be prepared and submitted for approval.

In 2026, the construction drawing design and estimate will be prepared, appraised and approved; the contractor will be selected; construction will begin. In 2027, construction will continue; in 2028, the project will be completed, accepted and put into use. In 2029, the project will be finalized.

With the progress as proposed by the Department of Culture and Sports of Ho Chi Minh City, it is very difficult for the project to start before April 30, 2025 as directed by the Chairman of the City People's Committee.

Previously, at the end of April 2024, the Ho Chi Minh City People's Committee decided to stop implementing the Phan Dinh Phung Stadium Project under the BT form to switch to investment using the City's budget.

However, up to this point, the termination agreement with the investor has not been completed because the two parties have not agreed on a compensation plan for the enterprise.

Phan Dinh Phung Stadium project is located on a "golden" land plot with an area of 1.44 hectares in the central area of District 3, Ho Chi Minh City. It was approved for investment in the form of BT in 2010 and the project was approved in 2016.

In June 2018, Ho Chi Minh City People's Committee signed an investment agreement with the Joint Venture of Compensation and Clearance Joint Stock Corporation - Phat Dat Real Estate Joint Stock Company to implement the Project.

However, before the project could start construction, the BT investment form was "terminated" according to the Law on Investment under the Public-Private Partnership (PPP Law), effective from the beginning of 2021. Since then, the project has been stuck and cannot be implemented.

Due to slow progress, the total investment of the Project increased from VND 988 billion to VND 2,215 billion. At the end of April 2024, the Ho Chi Minh City People's Committee decided to stop implementing the Project under the BT form and switch to investment using budget capital.

Source: https://baodautu.vn/tphcm-de-xuat-chi-1850-ty-dong-von-ngan-sach-dau-tu-nha-thi-dau-phan-dinh-phung-d230555.html