HCMC – After one year of construction, the cost of the Beltway No. 4 project in the Hanoi Capital area has increased by nearly VND2.9 trillion against the original estimate approved by the National Assembly (NA).
This road spans over 113 kilometers across three localities in the Hanoi Capital area: Hanoi, Hung Yen and Bac Ninh. The project has seven components, with construction work started in mid-June.
In a report submitted to the NA, the Government said that the estimated cost of the project’s implementation phase would rise as market prices are taken into account to determining the value of land for compensation.
In comparison to the original design, the total area of land for the project soared by 56 hectares to 1,397 hectares.
The Hanoi People’s Committee has plans to amend the investment plan for the project, according to the report. For now, the feasibility studies for six out of the seven components of the project have been completed by local authorities.
The project is expected to be completed by 2026 and will be opened to traffic a year later.
The Hanoi Capital area encompasses Hanoi City and nine neighboring provinces — Hai Duong, Hung Yen, Vinh Phuc, Bac Ninh, Ha Nam, Hoa Binh, Phu Tho, Thai Nguyen and Bac Giang, according to the Government’s Decree No. 91 in 2021.
As for 2030, Hanoi City has sought to complete beltways No. 4 and No. 5, as well as the expressway network that links Hanoi and nearby provinces.