Ho Chi Minh City assigns private investor to huge anti-flooding project

Thanh Nien News

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 The graphic image of a 7.8 kilometer long floodbank along the Saigon River. Photo credit: Trung Nam Group
Authority in Ho Chi Minh City has appointed a local construction firm to develop a system of floodbank, drains and floodgates at the projected cost of a VND9.93 trillion (US$436.65 million), local media reported on Friday.
The system will free a combined area of 570 square kilometers in districts 1, 4, 7, 8, Nha Be and Binh Chanh from flooding, with about 6.5 million people benefiting from it, the media quoted Trung Nam Group's feasibility study as saying.
A nearly 7.8 kilometers long embankment will be built along the Saigon River, while six floodgates will be built at different sections of the river with the heights of 3.5-10 meters. A total of 25 drains will also be built around the giant structures as a supportive system, according to the plan.
Trung Nam Group will execute the project in three years, possibly starting this year end, at its own expenses in exchange for rights to lands in the city for its other projects. The lands will be equivalent to 15 percent of the project's cost, and the rest will be paid from the city's budget in eight years, the media said.
The project is one Ho Chi Minh City's latest efforts to deal with worsening flooding issues.
At a recent meeting, the municipal authority announced that it will earmark more than VND156 trillion ($6.85 billion) for anti-flooding projects over the next five years.

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