HCMC – The HCMC government has committed to ensuring sufficient site clearance funding for a section of the Ring Road No. 3 project, thus making it possible to start work on the section in the first quarter of next year.
Under a document sent to the Ministry of Planning and Investment, the investment in the Tan Van-Nhon Trach section has been revised up from over VND5.3 trillion to nearly VND7 trillion as the site clearance cost has soared from VND624 billion to VND2.25 trillion.
The reciprocal capital for the section will be increased from VND1.1 trillion to nearly VND2.8 trillion, Thanh Nien Online newspaper reported.
At its recent meeting, the HCMC People’s Council approved the mid-term public investment plan for the 2021-2025 period using the city’s budget. Accordingly, the capital for the site clearance for the Ring Road No. 3 project will be ensured.
Earlier, the HCMC government had represented Long An, Dong Nai and Binh Duong provinces to report the investment plan for the project to the prime minister.
The 91-kilometer ring road would pass through HCMC, Dong Nai, Binh Duong and Long An and require an estimated VND165.3 trillion, with some VND84.7 trillion of it going to the first phase.
The site clearance, compensation and resettlement costs are high, at some VND52.5 trillion, so the four localities have proposed the central Government allocate money from the socioeconomic recovery and development program for the first phase of the project.