HCMC – The HCMC Department of Transport has proposed sourcing more than VND13.6 trillion from the public investment plan for the 2021-2025 period for the Ring Road No. 2 project.
The capital will be used for two sections in Thu Duc City: the Phu Huu Bridge-Hanoi Highway and the Hanoi Highway-Pham Van Dong Street. The capital is equivalent to 80% of the total investment in the two sections (some VND17 trillion), news site VnExpress reported.
The remaining VND3.4 trillion needed for the two sections will be allocated in the next periods.
The municipal Department of Transport proposed the municipal government assign the Department of Planning and Investment to review the approved mid-term public investment in the 2021-2025 period and the increased capital to arrange funds for the two sections. The results will later be reported to the municipal People’s Council at its upcoming meeting.
According to the prefeasibility reports for the two sections, the section from the Phu Huu Bridge to Hanoi Highway would be some 3.5 kilometers long and require an investment of nearly VND8.6 trillion in the first phase, including VND6.4 trillion for site clearance.
Parallel roads with three lanes for each of the sections will be developed first. At the Binh Thai Intersection, there would be a two-way overpass with 10 lanes and branches connected to nearby roads.
The section from Hanoi Highway to Pham Van Dong Street will have a length of 2.8 kilometers and need an investment of nearly VND8.5 trillion in the first phase, with some VND5.5 trillion for site clearance. Two parallel roads and a three-story intersection of Pham Van Dong and Linh Dong streets will be built first.
In May last year, the HCMC government’s Party Civil Affairs Committee added the two sections to the list of projects eligible for the mid-term public investment in the 2021-2025 period. The municipal government asked the Department of Planning and Investment to prepare for the investment in the two sections.
Besides these two sections, eight more kilometers of the Ring Road No. 2 project has yet to be developed, of which the 2.7-kilometer Pham Van Dong Street-Go Dua Intersection construction, conducted under the build-transfer mode, will be resumed this year.
Meanwhile, a 5.3-kilometer section from National Highway 1 to Nguyen Van Linh Street, passing through districts 8, Binh Tan and Binh Chanh, has yet to be developed. The section requires an estimated investment of over VND9.2 trillion, which was expected to be sourced from the public investment.
The Ring Road No. 2 project was planned to be over 64 kilometers long. When in place, it will help reduce the traffic pressure in the city’s downtown area and be connected with many other large traffic systems in the city.