Parliament approves funding for Hanoi's new ring road

Created 17 June 2022
  • PDF
Editor Choice
Share
(0 votes, average 0 out of 5)

The National Assembly on Thursday passed a resolution to spend VND85.8 trillion ($3.67 billion) on Ring Road No.4 to connect Hanoi with neighboring provinces.

Parliament approves funding for Hanoi's new ring road

The road will stretch 112.8 kilometers, covering 56.5 kilometers in Hanoi, 20.3 kilometers in Hung Yen Province, 21.2 kilometers in Bac Ninh Province, with the rest comprising Hanoi – Ha Long Expressway.

It will be carried out in two stages.

Phase one will be built in 2021-2025 and cost VND41.86 trillion of the central budget and more than VND22.47 trillion contributed by Hanoi and both provinces.

Phase two in the 2026-2030 period will cost VND8.79 trillion from the state budget, VND5.71 trillion from locality contributions and more than VND29.44 trillion from a private investor under a public-private partnership model.

As planned, the project will be basically completed in 2026 and open to traffic in 2027.

Hanoi People's Committee will oversee project implementation.

Within two years since the resolution is passed, the NA allows heads of competent agencies to choose contractors for consultation, technical infrastructure relocation, compensation, support and resettlement.

 

Source: VNE

Maybe You Also Interesting :

» No ‘restricted area’ in corruption fight, breakthroughs achieved: Party chief

Vietnam’s fight against corruption is stronger than ever, with many breakthroughs recorded in the strict implementation of laws, Party General Secretary...

» Vietnam third largest market for bubble tea in Southeast Asia: study

Turnover of the Vietnamese bubble tea market hit $362 million in 2021, ranking third among six major Southeast Asian markets, according to a recent study.

» 90% of Vietnamese migrant workers are low-skilled: expert

The vast majority of Vietnamese workers abroad are low-skilled, driving the future need for more high-skilled labor, experts told a Tuesday conference.