$220 million bridge directly links District 1 and District 2 in southern city.
Ground has been broken on construction of the Thu Thiem 2 Bridge, which is being built under a build-operate-transfer (BOT) project between the Dai Quang Minh Company and the Ho Chi Minh City People’s Committee with total investment capital of VND4.26 trillion (nearly $220 million). Of this, the construction costs are VND2.283 trillion ($142 million), compensation and clearance costs nearly VND309 billion ($15 million), and other costs VND1.668 trillion ($79 million).
Dai Quang Minh will be the project contractor under the BOT. The Ho Chi Minh City People’s Committee has agreed to transfer 13.6 ha in the Thu Thiem New Urban Area to the company.
The bridge, which connects District 1 and District 2, will create many favorable conditions to develop the Thu Thiem New Urban Area. Speaking at the breaking ground ceremony, Minister of Transport Dinh La Thang expressed his appreciation of the efforts by local authorities to seek capital to develop the city’s infrastructure. He also requested that local authorities and the investor ensure the project is completed on schedule. “The bridge can be completed within 30 months and investor is capable of doing so,” he said.
Thu Thiem 2 Bridge has six lanes and is nearly 1.5 kilometers in length. Its lighting system will make it the most prominent construction on the Saigon River. Completion is expected on April 30, 2018.