Ho Chi Minh City has plans to carry out a multimillion-dollar project which will help control flooding in many areas.

The project has an estimated capital expenditure of VND9.850 trillion (US$439.7 million), 18.1 percent of which will be spent on compensation for site clearance.

According to the plan, six new sluices for tide control, 6.97 kilometers of dam and 68 small drains will be installed in District 1, District 4, District 7, District 8, Binh Tan District, Nha Be District, and Binh Chanh District.

The project was designed with consideration for changing weather conditions and has been submitted to the prime minister by the local People’s Committee.

The proposed forms of investment include public-private partnership (PPP) and build-transfer contracts which will be supported by the city’s land bank and budget.

Trung Nam Construction Investment Joint Stock Company, one of the investors, has finished writing the proposal as well as the feasibility report for the project.

The Ho Chi Minh City People’s Committee also proposes that competent agencies consider appraising and approving the project’s feasibility report while waiting for the prime minister’s decision in order to speed up the process.

Procedures for investor selection as well as the signing of relevant contracts and agreements will be carried out after the project is officially approved by the prime minister, the committee said.

The relocation of 325 households comprising 1,625 people will also need to be implemented in order for the project to be executed, according to the assessment of the Ho Chi Minh Department of Planning and Investment.

The bank of land which will be used as payment for the investors includes block A of the Southern Saigon Urban Area with an area of 5,500 square meters, 4.2 hectares of land in Phuoc Long B Ward and 34,414 square meters in Phuoc Long A Ward of District 9, the department added.

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