Japan seeks investment approval to upgrade HCM City canal

19:48 | 20/07/2015 Economy

The Japan International Cooperation Agency (JICA) has asked municipal authorities in Ho Chi Minh City for permission to take part in the Xuyen Tam Canal upgrade project, worth over 5.1 trillion VND (around 234.1 million USD), in Binh Thanh and Go Vap districts, Hanoi Moi Newspaper reported on July 17.

Japan seeks investment approval to upgrade HCM City canal

The project involves dredging the 6.21km main section of the Xuyen Tam Canal, which runs from Nhieu Loc-Thi Nghe Canal to Vam Thuat River, as well as dredging three other subsections, developing transport infrastructure and upgrading urban residential areas along the canal in Binh Thanh and Go Vap districts.

JICA proposed to invest 3.5 trillion VND (approximately 160.5 million USD) in the project, or roughly 70 percent of total investments, in the form of a Public-Private Partnership (PPP) agreement.

Vice Chairman of the municipal People’s Committee Nguyen Huu Tin has asked the city’s departments of Investment and Planning, and Finance, as well as a other relevant bodies, to assess the proposal and report to the People’s Committee on its feasibility./.

Source: VNA

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