Vingroup, controlled by Southeast Asia’s richest man Pham Nhat Vuong, proposes building 2 artificial islands for HCMC sea road
Vingroup is offering to build two artificial islands as part of its plan to develop a sea road in HCMC between the mangrove area in Can Gio and the beach town of Vung Tau.
The islands will help shorten bridge spans and undersea tunnel lengths, accommodate technical facilities, ventilation systems, and rescue and emergency services, it said in a proposal that is being reviewed by city authorities.
The islands are also expected to mitigate the impacts of waves, currents, and sedimentation, enhancing the safety and durability of the route in what are complex marine conditions at the estuary.
An illustration of Vingroup’s proposed sea-crossing route connecting Can Gio with Vung Tau in HCMC. Photo courtesy of Vingroup |
The company said the locations and sizes of the two islands would be specified in the later stages of development.
The proposed 14-kilometer sea route, designed with six or eight lanes and including a 3.1-kilometer undersea tunnel, has already been approved in principle.
Budgeted to cost VND92.6 trillion, the project is proposed under a public-private partnership. The developer will arrange all funding, including land clearance costs, and the government will compensate with land of equivalent value.
Construction is expected to begin in the second quarter of this year and be completed in early 2029.
The shortest route between Can Gio and Vung Tau now is a ferry crossing, which takes around an hour. Upon completion, the sea route will bring travel time down to around 10 minutes.
Vingroup is the largest company in Vietnam and the fourth biggest in Southeast Asia by market cap. It is controlled by the region’s richest man, Pham Nhat Vuong, who has a net worth of $34.1 billion, according to U.S. magazine Forbes.
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