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Saturday, June 15, 2024

Investment in Ring Road No. 3 project cut by VND7 trillion

The Saigon Times

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HCMC – The total investment in the first phase of the Ring Road No. 3 project, which will connect HCMC, Binh Duong, Dong Nai and Long An, was estimated at nearly VND75.8 trillion, down by some VND7 trillion.

The investment cut was stated in the prefeasibility study for the project that the HCMC government submitted to the Government on January 28. The Government will later submit the prefeasibility study to the National Assembly for approval, news site VnExpress reported.

The lower investment resulted from a reduction in site clearance cost, which was estimated at VND41.8 trillion. In addition, the construction of the project and equipment will need more than VND25.6 trillion and the remaining capital will be spent on the project management, consultancy and backup.

The Ring Road No. 3 project will be nearly 92 kilometers long and divided into four sections—Nhon Trach-Tan Van, Tan Van-Binh Chuan, Binh Chuan-National Highway 22 and National Highway 22-Ben Luc. The road will have eight lanes and allow a maximum speed of 100 kilometers per hour.

HCMC sought to divide the project into eight subprojects—four site clearance subprojects and four construction subprojects—in line with the precincts of localities where the Ring Road No. 3 will pass through.

The HCMC government also sought to complete the construction of the project by 2023 and the site clearance in the 2023-2024 period. The construction of the road is expected to be completed in 2025 and the entire road opened to traffic in 2026.

The project will be executed under the public investment mode using the budgets of the State and the localities. HCMC proposed the State provide half of the investments in subprojects in HCMC, Binh Duong and Dong Nai and all the investments in subprojects in Long An.

Earlier, the investment in the first phase of the Ring Road No. 3 project was calculated at more than VND83 trillion. At a meeting with the relevant ministries, agencies and localities late last year, Deputy Prime Minister Le Van Thanh ordered the revision of costs for the construction, compensation and site clearance for the project.

Ring Road No. 3 is a key national project, boosting the regional connectivity and the socioeconomic development in HCMC and the southern key economic zone. The road, once in place, will also connect with the Ba Ria-Vung Tau, Binh Duong, Binh Phuoc, Long An, Dong Nai and Tay Ninh provinces, shortening the travel time between provinces.

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