Japan seeks investment approval to upgrade HCM City canal
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.
The Japan International Cooperation Agency (JICA) has asked municipalauthorities in Ho Chi Minh City for permission to take part in the XuyenTam Canal upgrade project, worth over 5.1 trillion VND (around 234.1million USD), in Binh Thanh and Go Vap districts, Hanoi Moi Newspaperreported on July 17.
The project involvesdredging the 6.21km main section of the Xuyen Tam Canal, which runs fromNhieu Loc-Thi Nghe Canal to Vam Thuat River, as well as dredging threeother subsections, developing transport infrastructure and upgradingurban residential areas along the canal in Binh Thanh and Go Vapdistricts.
JICA proposed to invest 3.5 trillionVND (approximately 160.5 million USD) in the project, or roughly 70percent of total investments, in the form of a Public-PrivatePartnership (PPP) agreement.
Vice Chairman ofthe municipal People’s Committee Nguyen Huu Tin has asked the city’sdepartments of Investment and Planning, and Finance, as well as a otherrelevant bodies, to assess the proposal and report to the People’sCommittee on its feasibility.-VNA
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