HCM City cuts construction investment projects

HCM City municipal government has controlled closely its budgetary spending for basic construction investment and focused capital on transitional projects, major works for targeted completion within 2011 under the government’s Resolution No 11/NQ-CP.

In first phase, the city checked the usage and withdrawal of advanced capital of ground clearance compensation units with total advanced and transferred capital of 308 billion dong. 212 billion dong planned for spending on purchasing new cars and assets was suspended, according to Thai Van Re, Director of HCM City Department of Planning and Investment.

The city also proposed to cut capital of 453.2 billion dong in 95 projects, including suspending 15 projects with cut amount of 37.9 billion dong, extending progress of 80 projects.

The department also is checking the progress of projects to consider capital transfer for transitional projects that could be finished in 2011. Projects using foreign aids and other urgent projects are needed to be added with 1.944 trillion dong in the location.

Investors propose to kick off 115 new projects with extra capital of 1.123 trillion dong, 59 others to be conducted with proposed amount of 315 billion dong, 562 projects under investment preparation with 216 billion dong proposed to be supplemented.

In order to provide resettlement area for major projects, the city ordered to invest and build Vinh Loc B area with total area of 30.9 hectares; 45 apartment blocks, 1,939 flats and 531 associated apartments. The project has finished in first phase with 940 flats and 290 associated apartments. – Vietbiz24

Posted by VBN on May 19 2011. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry