The HCM City People’s Committee yesterday signed a BOT (Build-Operate-Transfer) contract and handed over an investment certificate to IDICO Infrastructure Development Investment Joint-Stock Company (IDICO-IDI) to build three additional traffic works on National Road 1A from An Suong to An Lac.
Under the contract, traffic circles will be built at the intersections of National Road 1A with provincial roads 10 and 10B.
In addition, a 20.2-kilometre lane barrier separating different kinds of vehicles will be built by IDICO-IDI. Total cost of the project is VND704.5 billion (US$33.87 million).
The work will begin in the fourth quarter of this year and is expected to be completed after 18 months.
IDICO-IDI is expected to collect tolls until February 2033.
The project would help ease traffic congestion and reduce the number of traffic accidents on National Road 1A from An Suong – An Lac, which runs through Binh Tan District, District 12 and Hoc Mon District, said Tran Quang Phuong, director of the city’s Department of Transport.
The BOT project initially upgraded and expanded National Road 1A from An Suong – An Lac into an eight-lane road. That work was completed in 2005 by IDICO-IDI, which began toll collection at that time as well.
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