HCMC authorities have approved in principle a proposal by Vingroup Joint Stock Company (Vingroup) to build and upgrade some major routes connecting Tan Cang area in Binh Thanh District with the city center, said a source from the company.

According to the source, HCMC Vice Chairman Nguyen Huu Tin last week agreed with Vingroup’s proposal to build and upgrade those routes with an aim to completely solve the flood around the area. The routes will also facilitate the traffic flow to and from a new property complex being developed by the group in Tan Cang.
In line with the plan, Vingroup will upgrade Nguyen Huu Canh Street, build a riverside street from Ton Duc Thang Street to Ngo Tat To Street, and expand Ung Van Khiem Street.
The project of expanding Ung Van Khiem Street is in fact part of the second phase of the Binh Trieu 2 Bridge and Road project which has not been carried out after many years. Meanwhile, Nguyen Huu Canh and Ngo Tat To Streets are usually flooded seriously.
The city government has assigned the Department of Planning and Investment to cooperate with relevant departments and work with Vingroup to study the project of upgrading and building routes from Tan Cang to the inner area.
Vingroup has suggested building and upgrading those routes under the BT (build and transfer) format.
In July, the group broke ground for a multi-functional urban area called Vinhomes Tan Cang at a total cost of VND30 trillion on an area of 43 hectares at the Tan Cang area.
The complex includes the 81-storey Landmark tower, which will comprise serviced apartments and offices for lease.
The group expects to put high-class villas, schools and a Vinmec hospital of the complex into operation next year, and the entire complex will be inaugurated in 2017.
In July last year, the city authorities appointed Vingroup as investor of the international finance-banking-trading-services center, covering an area of 17 hectares in Thu Thiem Urban Area. The group is also investor of a multi-functional trading-services- residential complex on an area of 7.9 hectares in this urban area.
Source The Saigon Times Daily.