SKorean firm stops feasibility study for HCMC overpass

South Korea’s GS Engineering & Construction Corporation has petitioned the Ho Chi Minh City People’s Committee to allow it to stop carrying out a feasible study for an overpass, citing financial difficulties.

A recent committee report says Overpass No. 1 was designed to run along Nhieu Loc- Thi Nghe Canal through districts 1, 3, Tan Binh, Phu Nhuan and Binh Thanh.

In December 2007, the committee signed a memorandum of understanding with the corporation to build the 10.8-kilometer overpass that will allow vehicles to travel at 80 km per hour.

The VND4.7 trillion (US$274.7 million) road is one of the projects designed to reduce traffic jams on city roads.

Nguyen Dinh Muoi

thanhnien

>   Global downturn hits Asia’s foreign workers (10/08/2009)

>   Market glut, low competitiveness could hurt steel sector (10/08/2009)

>   Phone firms spend big on 3G; Experts say they can’t afford it (10/08/2009)

>   Property transaction centres ‘too complicated’ (10/08/2009)

>   ODA disbursement reaches US$1.5 bil in seven months (10/08/2009)

>   Hanoi’s industrial production recovers (10/08/2009)

>   Thai real estate giant invests in seaport city (10/08/2009)

>   Southern province boosts seafood exports (10/08/2009)

>   Petrol prices up by VND500/litre (10/08/2009)

>   Idemitsu may expand Vietnam Nghi Son refinery project (10/08/2009)