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Sunday, June 16, 2024

Ring Road No. 3 project to be funded by Govt, localities

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh has approved that the Ring Road No. 3 project, which will connect HCMC, Binh Duong, Dong Nai and Long An, will be executed under the public investment mode using the budgets of the State and the localities.

The information was included in a document on the prime minister’s conclusions at a recent meeting on the Ring Road Nos. 3 and 4 projects. He said the two projects were important to connect to the southern key economic zone. However, the projects will pass through urban areas, so the needed investment will be large, making it hard to carry them out under the public-private partnership mode, especially the Ring Road No. 3 project.

The HCMC government has been assigned to prepare to implement the project. The city must quickly complete the prefeasibility report for the project in early February and submit it to the National Assembly at its sitting in May, the local media reported.

The HCMC government must also establish a working team to study and flesh out the investment plan for the project at the earliest. The working team will be responsible for drawing up a detailed plan to ensure the progress of the project; prepare for the compensation, site clearance and resettlement in a cost-saving, effective, feasible and legal manner; and propose an appropriate ratio of the State budget and localities’ budgets as well as necessary policies.

The working team must report the results of these jobs to the Government before February 5.

The prime minister assigned Deputy Prime Minister Le Van Thanh to direct the working team to fulfill its duties.

The HCMC Department of Transport has reviewed and updated the direction of the road, which will be nearly 92 kilometers long and was 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.

In the first phase, the project will need over VND85.4 trillion in investment, including VND44.4 trillion for site clearance, nearly VND32 trillion for construction and equipment and the remaining for the project management and consultancy costs and backup.

Localities will complete the site clearance in the 2023-2024 period, and the project is expected to be completed in 2026.

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