Contracts will be terminated if the projects are not developed on schedule or prolonged.
The city is building four underground parking lots at Le Van Tam Park, Tao Dan Park, Trong Dong Stage and Hoa Lu Stadium, all in District 1.
On July 10, the city’s People's Committee cancelled the build-operate-transfer (BOT) contract with the Investment and Development for Underground Space Corporation (IUS), the main contractor for the underground parking lot in Le Van Tam Park.
Approved by the city authority in 2009, the parking lot under the Le Van Tam Park would accommodate 1,300 cars and 2000 motorbikes. However, the project is still on paper.
The authority has directed the city’s Department of Transport to work with the contractor of the parking lot project under the Trong Dong Stage to find solutions to speed up the work.
In addition, the department will work with the Management Board of Transport Infrastructure to complete the pre-feasibility study report for projects located in Hoa Lu Stadium and Tao Dan Park.
The parking project under the Trong Dong Stage has total investment of 740 billion VND (31.9 million USD) on an area of 1,620 m2. The project will include seven underground floors and three floors above ground.
The project is expected to accommodate 890 cars and 400 motorbikes.
The four-storey underground lot at Tao Dan Park has a total investment of 1 trillion VND (43.1 million USD), and space for 1,198 cars and 896 motorcycles. The lot at Hoa Lu Stadium will cost 3.4 trillion VND (146.6 million USD) and has five basement floors, with parking spaces for 2,548 cars and 2,873 motorcycles.
The department has also asked city authorities to build automatic parking lots. These parking lots would have a capacity of 10 to 20 vehicles and would be located near offices and companies in the city centre.