CII-IMIC joint venture tapped to study the Hang Xanh–Binh Trieu transport infrastructure overhaul

Ho Chi Minh City authorities have approved the proposal from the Finance Department and related agencies to appoint a joint venture comprising Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), the Public-Private Partnership partner CII and IMIC to study and prepare a proposal for the Hang Xanh - Bình Triệu transport infrastructure upgrade under a PPP model. The project is estimated to require more than 10.2 trillion dong in initial investment. The joint venture will fund the full cost of the research, with the city budget participating in land clearance costs. The assignment of the study does not imply selecting an investor to carry out the project. After the project is approved in principle and announced as required, the city will conduct an investor selection. According to the direction of research published by CII, the Hang Xanh - Bình Triệu upgrade covers nearly 27 hectares, stretching from the Hang Xanh junction to the Bình Triệu bridge, in the old Bình Thạnh district. The study plan includes upgrading the nodes and transport system, arranging a resettlement area to support land clearance, and studying the land fund to pay for BT contracts. The total investment for the infrastructure line is estimated at more than 10.2 trillion dong, with the enterprise arranging most of the funding while the budget participates in land clearance costs. In return, the investor proposes to be compensated with the existing Miền Đông Bus Terminal land fund. Part of the land fund will be used for resettlement and public works, the remainder to be exploited to recover costs. The enterprise notes that this is not just a standalone transport project but also a connector for strategic infrastructure corridors such as Tan Son Nhat - Thủ Thiêm, Tan Son Nhat - Long Thành, and the northern city corridor via National Highway 13. Previously, CII proposed developing the TOD Hang Xanh urban area spanning 51.4 hectares with a total investment of nearly 487 trillion dong (about 18.5 billion USD), aiming to ease congestion and flooding at the eastern gateway of Ho Chi Minh City through a multi-level public transport model. The Hang Xanh area currently concentrates key transport arteries such as Dien Bien Phu, Xô Viết Nghệ Tĩnh, National Highway 13, Dinh Bo Linh and Nguyen Xi. These are high-traffic routes prone to congestion due to overloaded infrastructure and complex junctions. CII is one of the major players in Ho Chi Minh City's transport infrastructure. It has participated in projects such as the second phase of Xa Lộ Hà Nội giai đoạn 2, investment in northern urban infrastructure, and the completion of the North-South axis in the Thu Thiem new urban area. The company is also known as the investor of the Ho Chi Minh City - Trung Lương - Mỹ Thuận expressway.