Ho Chi Minh (HCM) City Infrastructure Investment (CII) Joint Stock Company in Vietnam has unveiled plans to build one million m² of new roads this year to reduce traffic congestion.

According to the Department of Transport, the plan would increase the density of roads in the city to 1.816km of roads / km².

CII intends to seek funds from local and foreign investors through public-private partnership (PPP), build-operate-transfer (BOT), build-transfer-operate, and build-transfer (BT) models to achieve the plan.

As per the plan, the HCM City Infrastructure Investment Joint Stock Company intends to expand the Ha Noi Highway, construct the Rach Chiec Bridge and the inter-provincial Highway 25B, and complete the second phase of the Binh Trieu Bridge, among others.

Estimated to cost $1.4bn, the Ha Noi Highway will be a four-lane 158-km road between Ha Noi and Lang Son, according to Vietnam Expressway Development and Investment Corporation (VEC).

The highway starts at the intersection of Highway One and Highway Five in Ha Noi and terminates at Huu Nghi Border Gate in Lang Son.

When completed, the highway is expected to reduce travel time between Ha Noi and northern provinces and China, while boosting economic development of the Northeast region.

The company will also carry out work on the Belt Road No. 2 section, linking An Lap Traffic Point to Nguyen Van Linh Street, this year at a cost of VND9.5tn ($456m), reports Vietnam News.

Construction of the Thu Thiem Bridge No. 2 linking the Thu Thiem urban area and the future Thu Thiem new urban area will cost VND1.6tn ($77m) and is scheduled to begin this year.

CII would also commence construction work on the Sai Gon Bridge No. 2 in April this year on a BT basis and is expected to cost more than VND1.2tn ($58m).

PetroVietnam Infrastructure and Urban Investment Joint Stock Company will finalise the design work for the road projects under the BT model.