Sea dyke project

The Ho Chi Minh City Department of Transport is seeking approval for a VND513 billion (US$22,370) canal renovation project to deal with flooding at Tan Son Nhat International Airport and its vicinity. The municipal transport department has submitted the plan on renovating Hy Vong Canal in Tan Binh District to the People’s Council for ratification. The project is aimed at improving rainwater drainage at Tan Son Nhat International Airport and other areas along the canal. The target areas cover about 1,052 hectares. The plan will also prevent flooding at public works and residential areas as well as helping improve the local environment and urbanscapes. The renovated canal will be 1,821 meters long, while two roads, about 10 meters wide each, will be built along both sides of the canal. Steel fences and lighting systems will also be installed along these roads. The project is estimated to cost VND513 billion, funded by the city’s budget, and is expected to be finished in … [Read more...] about Canal renovation project proposed to prevent flooding at Ho Chi Minh City airport

The Hanoitimes - PetroVietnam (PVN) and the Japan Bank International Cooperation (JBIC) are discussing financial arrangements for the Block B gas project and 52/97 field development project, announced PVN on its website. Following the discussion, JBIC will consider providing funding for the Block B and 52/97 projects without a guarantee from the government. PVN to seek Japanese funding for US$10-billion petroleum project. Block B gas project is one of the largest of its kind in Vietnam, with a total investment of US$10 billion. With such large investment, stated PVN, the search for an appropriate financial arrangement has been a major concern for foreign partners taking part in the project. Following the schedule, the project will award the contract and sign the first engineering, procurement, construction and installation (EPCI) contract in June, while the second EPCI will be inked in July. Block B gas project includes 2 components. The first component … [Read more...] about PVN to seek Japanese funding for US$10-billion petroleum project

Costing more than 4.84 trillion VND (211.2 million USD), the project is slated to complete in July 2023, in conjunction with the completion of the Tan Son Nhat international airport’s Terminal 3. The project, approved in December 2019, includes the building of a six-lane 4km road, an intersection tunnel, and a 1,200m overpass in front of the Terminal 3. Apart from the project, the city also conducting procedures to implement the expansion of Hoang Hoa Tham road and upgrading of Cong Hoa road around the Tan Son Nhat airport. The construction of both projects was initially set to begin in 2020 but it was delayed due to problems in site clearance. Source: VNA … [Read more...] about HCM City: early start proposed for over 4.8 trillion VND traffic project

>>> PM hails role of Vietnam Bank for Social Policies in poverty reduction According to a report at the meeting, currently, three projects have been excluded in the supervised list, while a number of projects have become operational but with difficulties and losses, and some others have not been completed or halted operation. Meanwhile, five projects have suffered disputes in EPC contract despite many negotiations. The Ministry of Industry and Trade (MoIT) explained that due to the incomplete settlement of EPC contracts, there is still a lack of legal foundation for the divestment of capital from the projects. At the meeting, PM Phuc asked the MoIT to submit solutions to the failed Phuong Nam Pulp Mill project by March 10. Due to the complication of other projects, the PM asked the Committee for Management of State Capital at Enterprises to give more detailed proposals. He asked relevant agencies to strictly implement the conclusions in the work, especially in … [Read more...] about PM asks for prompt solutions to ineffective, stagnant industry-trade projects

The Hanoitimes - The Vietnamese government creates favorable conditions for foreign investors to expand investment here. Lotte Properties Thu Thiem’s leadership is committed to building the Thu Thiem Eco Smart City project into a prominent landmark of Ho Chi Minh City and Asia, Lee Kang Woo, General Manager of Lotte Properties Thu Thiem, told Minister and Chairman of the Government Office Mai Tien Dung at a meeting on March 3 in Hanoi. Minister and Chairman of the Government Office Mai Tien Dung (R) and Lee Kang Woo, General Manager of Lotte Properties Thu Thiem (L). Photo: VGP Speaking at the meeting, Dung said he hoped Lotte Properties Thu Thiem, owned by South Korea’s Lotte Group, would speed up the construction progress of the project, so that it will be put into operation after the Covid-19 pandemic is rolled back. In July 2017, four Lotte members and Ho Chi Minh City People’s Committee signed a contract the construction of Eco-smart City with the … [Read more...] about Thu Thiem Eco Smart City expected to become prominent landmark of Asia