Accordingly, the Ministry of Construction proposed to the Ministry of Finance to adjust the Component Project 1A of the first phase of the investment project for the Tan Van - Nhon Trach section in Dong Nai Province.
The proposal includes an increase in the total project investment from over VND6,955 billion (US$270 million) to VND9,268 billion (US$359 million).
This increase in investment would require a corresponding adjustment in Official Development Assistance (ODA) funding, from more than US$190 million to over US$262 million, equaling from VND4,175 billion to around VND6,209 billion.
The Ministry of Construction explained that the adjustment would serve to upgrade the project's scope from a four-lane road to an eight-lane expressway, with a design speed of 100 kilometers per hour, to ensure consistent operation across the entire Ring Road No.3 in accordance with expressway standards.
Previously, in 2016, the project was approved based on Class-III plain road standards, with a design speed of 80 kilometers per hour when the investment in the remaining segments of Ring Road No.3 had not yet been identified.
