HCMC seeks ministerial feedback on Vingroup's $3.5 bln sea-crossing bridge proposal

Authorities in Ho Chi Minh City have sought feedback from several ministries on a proposal by Vingroup (HoSE: VIC) to build a sea-crossing bridge-road in Ho Chi Minh City, with an estimated investment of nearly VND92.66 trillion ($3.53 billion).

The municipal People’s Committee sent an official request for comments to the Ministry of Public Security, Ministry of Finance, Ministry of Construction, and Ministry of Agriculture and Environment regarding the investment proposal.

This marks the second time within three months that the city has consulted central government agencies on the plan after Vingroup revised and resubmitted the project dossier to local authorities on January 21.

According to the municipal government, the large-scale infrastructure project could affect multiple sectors, including maritime activities, sea transport, water resource management, construction, and urban planning.

The city asked ministries to review and provide feedback on the updated proposal, which incorporates earlier comments from government agencies, before March 16.

Under the proposal, the sea bridge will connect Can Gio commune and Vung Tau ward and be developed under a public–private partnership (PPP) model using a build-transfer (BT) contract.

The route would start from Bien Dong 2 street in the Can Gio urban area and extend over 14 kilometers to an intersection between the planned Sao Mai-Ben Dinh road and 30/4 street in Vung Tau.

The project would require approximately 137.5 hectares of land. Funding would be fully mobilized by the investor through a combination of equity and commercial loans, without direct state budget investment. In return, the government would compensate the investor with land assets.

If approved, construction could begin in the second quarter of 2026 and be completed by the first quarter of 2029.

The project is expected to create a new overland route linking the coastal commune in southern HCMC with the popular beach destination of Vung Tau, cutting travel time to 10 minutes and easing chronic congestion on existing routes that are frequently jammed on weekends and holidays.

HCMC, Ba Ria-Vung Tau province, and Binh Duong province were merged in July to form the new HCMC which borders Dong Nai, Dong Thap, Lam Dong and Tay Ninh provinces and the East Sea.

Can Gio is the only coastal district of the former HCMC, while Vung Tau is a beach town in the former Ba Ria-Vung Tau province.

Can Gio has recently emerged as a key growth area for the city. In April, Vingroup broke ground on Vinhomes Green Paradise, a 2,870-hectare sea-encroachment tourism and urban project there.

The group has also proposed a high-speed rail link between the Phu My Hung urban area and Can Gio, designed for speeds up to 350 km/h, cutting travel time between the two locations to around 12 minutes.