Localities propose to spend 50 percent of local budget for Ring Road No.3

The Ho Chi Minh City People’s Committee has just sent an urgent official letter to the Prime Minister, the Ministry of Planning and Investment on the spending budget for the Ring Road No.3 project.
With its total investment of over VND75,700 billion (US$3.3 billion), the provinces and Ho Chi Minh City involved in the project proposed implementation of the project under public-private partnership form, pouring 50 percent of the localities’ financial sources, including VND24,400 billion (nearly US$1.1 billion) of HCMC, VND1,624 billion (US$71 million) of Dong Nai Province and VND9,781 billion (US$429 million) of Binh Duong Province to the project.

As for the rest capital source, the localities will receive a support of nearly VND40,000 billion (nearly US$1.8 billion) from the State budget, particularly Long An Province shall be supported 100 percent.

Ring Road No.3 has a total length of 90 kilometers traveling through HCMC, provinces of Binh Duong, Dong Nai and Long An. 

As for the first phase, the project will have a four-lane expressway and two parallel routes. The site clearances will be carried out once.

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