An underground car park project at Le Van Tam Park and another in the Trong Dong outdoor stage area in downtown HCMC are scheduled to begin construction in the fourth quarter of the year, according to the municipal Department of Transport.
Regarding the underground parking project at Le Van Tam Park, the department on Tuesday, July 17, said that the Underground Space Investment and Development JSC functions as the key investor. The 10-year suspension of the project was attributed to the investor’s financial shortage and to procedural obstacles, and its capital has grown to VND4.2 trillion from the initial VND1.748 trillion.
The investor is reportedly negotiating with some financial institutions and looks to complete all essential procedures to start work on the project in the fourth quarter of 2018.
To avoid further delays on the project, the Department of Transport stressed that it would report to the municipal government for further action if the contractor fails to fulfill its commitment to beginning the project as planned.
As for the underground parking area at the Trong Dong Stage, its technical design was in need of adjustment as one section has been included in the Metro Line No.2 project, resulting in sluggish construction. Further, Dong Duong Group, the investor, proposed supplementing a passenger transit station to and from Tan Son Nhat International Airport, causing the project to stall pending the completion of related procedures.
The municipal department is working with agencies under the Ministry of Transport to weigh up the additional transit station, so the project for Trong Dong Stage is slated for construction later this year.