HCMC – The Hanoi City government has proposed spending nearly VND23 trillion developing the 58-kilometer section of the Ring Road 4 project in the capital city area in the 2022-2030 period.
The project will require over VND19 trillion in the 2021-2025 period, while some VND4 trillion will be injected into the section running across Hanoi City in the 2026-2030 period, according to a recent dispatch sent by the city government to the People’s Council of the city.
The city’s budget will cover a cost overrun of the project, according to the dispatch.
The People’s Council will meet on May 20 to decide a capital allocation for the city section of the Ring Road 4 project.
Ring Road 4, which connects Hanoi City and Hung Yen and Bac Ninh provinces, requires an estimated VND86 trillion, the local media reported.
The project will comprise three groups with seven components, with the first group consisting of three site clearance components in the three localities. Three components in the second group will develop parallel roads, while an expressway will be executed in the component in the third group via a build-operate-transfer contract.
The ring road will have a total length of 112.8 kilometers, with 58.2 kilometers in Hanoi, 19 kilometers in Hung Yen and 25.6 kilometers in Bac Ninh. It will have four lanes and allow for a maximum speed of 80 kilometers per hour.