14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

Hanoi allocates over US$32 million for 10 stated-funded projects

Hai Yen - Linh Chi

May 16, 2020 / 04:50 PM

These include six new infrastructure projects and four in fields of transport and technical infrastructure having adjusted investment capital.

The Hanoi People’s Council at its meeting on April 15 approved a resolution to allocate VND748 billion (US$32 million) for 10 infrastructure projects using state funding.

Illustrative photo.

As per the council’s resolution, the city agreed on six new infrastructure projects with a total cost of VND34.64 trillion (US$1.48 million). They include a pedestrian overpass located near the wholesale market in Hoang Mai district with an investment of VND5.2 billion (222,196); an overpass for pedestrians at Lieu Giai street, Ba Dinh district costing VND8 billion (US$342,948); an overpass for pedestrians in Bac Linh Dam residential area, Hoang Mai district, at a cost of VND3.94 billion (US$168,902); an overpass for pedestrians at Nguyen Hoang street, Nam Tu Liem district, costing VND5.53 billion (US$273,063); an overpass for pedestrians at Ngoc Hoi street, Hoang Mai district with VND6 billion (US$257,211); and an overpass at Dao Tan street, Ba Dinh district costing VND5.95 billion (US$255,068).

All these projects are set to start construction in the 2021 – 2022 period, with funds fully sourced from the city’s budget. The financing mechanism for the six projects would not impact Hanoi’s mid-term investment plan in the 2021 – 2025, said a deputy head of the Economy – Finance Commission under the Hanoi People’s Council.

Meanwhile, the council decided to adjust the investment tally for four projects in the fields of transport and technical infrastructure development for a combined funding of VND713.27 billion (US$30.57 billion).

The first project is a resettlement area in Hong Ky commune with an increase in investment capital from VND89.75 billion (US$3.84 million) to VND101.6 billion (US$4.35 million).

The second one is the reparation and installation of fire prevention equipment at a number of resettlement areas at Xuan La, Xuan Dinh, Nghia Do, Phu Thuong, Me Tri Ha, Le Duc Tho, Cau Dien and Giao Luu, for which investment capital go up from VND12.04 billion (US$516,137) to VND14.91 billion (US$639,170).

The third one is the construction of road connecting from National Defense Sport Center to Vietnam Military History Museum with adjusted capital at VND227.79 billion (US$9.76 million).

The final one is a road going along Nga bridge pump station and an overpass at the intersection with national railway route Bac Hong - Van Dien at VND486.85 billion (US$20.87 million).

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