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Friday, July 19, 2024

State capital to be less than half of investment in Ring Road 4’s PPP subproject

The Saigon Times

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HCMC – The Government has sought that the State capital poured into a subproject conducted under the public private partnership (PPP) model of the Ring Road No. 4 project, which will pass through Hanoi, Hung Yen and Bac Ninh, should not exceed half of the total investment in the subproject.

The requirement was made after the Hanoi government reported the financial plan for the project, Tien Phong Online newspaper reported.

Accordingly, the Ring Road No. 4 project was included in the road system development plan in the 2021-2030 period with a vision to 2050 and was approved by the prime minister on September 1, 2021.

The project was aimed at reaching the target of having some 5,000 kilometers of expressways by 2030.

To ensure that the project will be submitted to the National Assembly for approval at its sitting in May next year, Deputy Prime Minister Le Van Thanh, at a recent meeting with the relevant ministries, agencies and localities, asked the Hanoi government to acknowledge the comments of agencies and work with the relevant agencies to adjust the scale of subprojects.

The Hanoi government was asked to submit a proposal on the appraisal of the project to the Government and the Ministry of Planning and Investment before December 25.

Meanwhile, the Ministry of Planning and Investment was asked to later complete appraisal procedures to ensure the submission of the project to the Politburo and the National Assembly.

The 111.2-kilometer Ring Road No. 4 project was designed to run from an intersection with the Noi Bai-Lao Cai Expressway in Hanoi’s Soc Son District to an intersection of the Noi Bai-Halong Expressway in Bac Ninh Province’s Que Vo District.

The road will pass through seven districts of Hanoi, four districts of Hung Yen Province and Bac Ninh City and three districts of Bac Ninh Province.

The Hanoi government has asked Vingroup, the project investor, to prepare the prefeasibility study for the project. Accordingly, the project requires an estimated investment of more than VND94 trillion.

The project was divided into three subprojects: site clearance and resettlement; parallel roads; and the elevated expressway. Of which, the elevated expressway subproject will be executed under the PPP mode.

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