According to the proposal, in order to complete the documentation for submission to the National Assembly for investment policy approval, the People’s Committee of Ho Chi Minh City submitted a proposal to the municipal People’s Council to approve of a Resolution endorsing the investment and implementation of the Ring Road No. 4 project.
The proposal also requested the agreement on allocating necessary funding for the project, including additional city budget allocations that should be added in case of adjusting the total investment in alignment with the project timeline proposed by the Government to the National Assembly.
According to the Ho Chi Minh City People’s Committee, the project’s starting point is at approximately Km40+00 on the Bien Hoa – Vung Tau Expressway, located in Phu My Commune, Tan Thanh District, Ba Ria – Vung Tau Province, while the endpoint of the project will connect with the North-South arterial road near Hiep Phuoc Port in Nha Be District, Ho Chi Minh City.
The road spans approximately 159.31 kilometers, passing through the following localities Ba Ria – Vung Tau at 18.23 kilometers, Dong Nai at 46.08 kilometers, Binh Duong at 47.95 kilometers, Ho Chi Minh City at 16.7 kilometers and Long An at 78.3 kilometers.
Besides, the 47.95-kilometer section through Binh Duong Province will be independently implemented, based on the investment policy already approved by the People’s Council of Binh Duong Province.
The projected investment for the first Phase will be approximately VND122,774.28 billion (US$4.7 billion).
Of which, the costs of construction and equipment shall be VND57 trillion (US$2.2 billion), project management, consulting, and other costs would be around VND7 trillion (US$268 million), contingency costs should be over VND12 trillion (US$459 million) while the compensation, support, and resettlement shall be over VND40 trillion (US$1.5 billion). The estimated total investment will be excluded the segment through Binh Duong Province.
Regarding funding sources, the Central budget will allocate VND31,033.24 billion (US$1.2 billion) while the local budgets shall be over VND38 trillion (US$1.5 billion) along with VND53 trillion (US$2 billion) from investment calling sources under Public-Private Partnership form (BOT contracts).
This ambitious infrastructure project is expected to significantly improve regional connectivity, reduce traffic congestion, and support economic development in the Southern key economic region.
