The management board of the HCM City National University’s student dormitory complex has petitioned the People’s Committee to quickly resolve the funding problem faced by the project so that the dormitory can be completed at the end of this year as scheduled.

The complex, which will have 24 buildings on a total area of 59ha in the Thu Duc – Di An area between HCM City and Binh Duong Province, is being built using money raised through a Government bond issue.

Designed to accommodate 60,000 students, the dormitory will cost more than VND3.5 trillion (US$166 million).

Of the 24 buildings, 20 are being built but land has yet to be cleared for the remaining four.

Speaking at a working meeting on Thursday with the People’s Committee chairman Le Hoang Quan, Huynh Thanh Dat, deputy director of the HCM City National University, said VND735 billion ($35 million) was spent on the work last year and VND192 billion would be spent this year.

But the VND192 billion amount would only be enough to complete construction of three buildings, Dat said.

Nguyen Van Tren, director of the project management board, said contractors have been forced to slow the pace.

The board has urged them to speed up work, but with the amount available this year, it woule not be possible, he said.

Nguyen Tan Ben, director of the Department of Construction and deputy head of the project Steering Committee, said the construction was on schedule so far.

However, this year funds would be a problem, making it hard for the project to remain on schedule, he said.

The Steering Committee recently held a meeting with the Ministry of Construction to explore ways to raise funds, and now had to wait for the Government to get National Assembly approval for issuing new bonds, he said.

Besides the money, the project management board is also worried that other infrastructure facilities like electricity, tap water, a hospital, supermarket and other services have not been built.

Ben warned if the project is completed without those, students may not be willing to live in the dormitories.

The board has called for investment in them but no progress has been made yet.

At the meeting, Quan asked relevant agencies to soon submit reports on the progress of the construction and the difficulties faced to the People’s Committee.

The Committee would examine the reports and seek funds from the central Government, he said.

Source: VNS