HCMC – The HCMC People’s Council has passed a resolution to develop the Ring Road No. 3 project as proposed by the municipal government with an estimated cost of over VND75 trillion, including VND24 trillion to be sourced from HCMC’s budget.
At the fifth sitting of the council on April 7, council members agreed to allocate capital from the city’s budget for the project. If the cost for the project’s auxiliary components in the city rises, the overruns will be sourced from the city’s budget, the local media reported.
The HCMC People’s Council also asked the municipal government to quickly complete dossiers on the project and submit them to the central government so that the latter can seek the National Assembly’s approval for the project.
The governments of Thu Duc City and Binh Chanh, Hoc Mon and Cu Chi districts were assigned to draw up compensation, resettlement and site clearance plans to hand over the site for the project in the second quarter of 2024.
These districts must pay attention to the living conditions of residents affected by the project after the resettlement and ensure that their new accommodations must be equivalent to or better than their current ones.
The Ring Road No. 3 project is a national key project so it must be approved by the National Assembly.
The road was designed to pass through HCMC and Dong Nai, Binh Duong and Long An provinces with a total length of over 76 kilometers. The road will have four lanes, while parallel roads will have two-three lanes each.
The project was divided into eight subprojects—four site clearance subprojects and four construction subprojects—in line with the precincts of localities where Ring Road No. 3 will pass through.
It will be executed under the public investment mode using the budgets of the State and the localities from 2022 to 2027. Work on the project was expected to begin in the last quarter of 2023.
The HCMC People’s Council also agreed to convert the land use purpose of 16.82 hectares of forests in Binh Chanh District to make room for the project.