HCMC proposes to spend US$1 bln to build Ring Road No. 3

SGGP 07/04/2022 14:20

At the fifth session of Ho Chi Minh City People's Council for the tenth tenure this morning, the People’s Committee of Ho Chi Minh City submitted the policy for investment and implementation of the Ho Chi Minh City's Ring Road No. 3 project, ensuring the capital balance allocated by the city budget to carry out the HCMC’s Ring Road Belt No.2 project to the Municipal the People's Council.

Map of Ring Road No. 3

Additionally, the People's Committee of Ho Chi Minh City also submitted on converting the forest use purpose to another purpose in order to implement the Ring Road No.3 project, which will be implemented under the form of public investment from the central and local budgets with the total investment capital of nearly VND75,400 billion (US$3.3 billion), including over VND24 trillion (US$1 billion) from the budget of Ho Chi Minh City.

The project is expected to be built from 2022 to 2027 and it will start the construction in the fourth quarter of 2023.

At the working session, the Municipal People’s Committee had a report related to the project of connecting bus routes with terminals of the Ben Thanh- Suoi Tien Metro Line, which has a total investment capital of nearly VND94 billion (US$4.1 million) from the city budget. The project will be under construction from 2022 to 2024.