HCMC — More than 2,200 hectares of land along the Ring Road No. 3 project in HCMC can be auctioned to recover the capital poured into the project, the municipal Department of Natural Resources and Environment has said.
The Dong Nai government is planning to auction three land lots totaling 214 hectares along the road, which are expected to fetch VND4.3 trillion, Tuoi Tre Online newspaper reported.
According to the prefeasibility study for the project, the first phase of the Ring Road No.3 project requires an estimated VND75.8 trillion. The State budget is expected to fund half of the investments in subprojects in HCMC, Binh Duong, and Dong Nai, and all the investments in subprojects in Long An.
The prime minister has directed HCMC, Dong Nai, Binh Duong, and Long An to study plans to exploit the land along the road.
The four localities have also asked the Government to seek the National Assembly’s permission to raise the mid-term capital under the public investment plan for the 2021–2025 period to allocate capital for the project. The increased funding will be sourced from auctioning land along the road and other legal capital resources.
To ensure that the project is submitted to the Government this month, the HCMC government has asked the authorities of Dong Nai, Binh Duong and Long An to quickly review and provide information about land lots along the Ring Road No. 3 project that are planned to be reclaimed.
According to the HCMC Department of Natural Resources and Environment, the project will affect nearly 3,900 households, with nearly 1,500 households requiring resettlement. Localities have prepared sites for resettlement areas, while affected residents in Binh Duong have said they want to seek new accommodation themselves.