The money has been spent on site clearance, compensation for residents, and the construction of Binh Loi Bridge across the Saigon River which will link Binh Thanh and Thu Duc districts, Lim said, adding that the construction, which began last September, was expected to be completed in 2011.

Meanwhile, construction on another 12-lane, 14-kilometer road from the airport in Tan Binh District to Xuan Hiep intersection in Thu Duc District has not yet begun, due to site clearance-related problems, Lim added.

This is the city's first BT (Build-Transfer) infrastructure project carried out by a wholly foreign owned corporation.

The company will spend all of the project's investment capital to carry out the project and in turn, the municipal government will grant the company land-use rights for seven areas totaling 100 hectares to construct apartment buildings and residential areas.

Source: Thanhnien News