HÀ NỘI – A 2.2km stretch of road in the capital city has become the most expensive one in the country so far, being built at a cost of VNĐ3.5 billion (US$152,00) per metre.

The Government has approved the investment of nearly VNĐ7.8 trillion (US$339 million) for constructing the Hoàng Cầu-Voi Phục stretch of Belt Road 1 in Hà Nội.

The 50m wide, 2.2km stretch from the Cát Linh-La Thành-Yên Lãng crossroads to Voi Phục crossroads will have construction area of more than 150,000sq.m, including two flyovers: one crossing the Hoàng Cầu-Voi Phục and Giảng Võ-Láng Hạ crossroads, and the other crossing the Hoàng Cầu - Voi Phục and Nguyễn Chí Thanh intersection.

The construction cost, nearly VNĐ7.8 trillion, will be sourced from the city’s budget and from other sources.

The project is scheduled to be implemented over a four-year (2017-20) period.

The average investment of VNĐ3.5 billion ($152,200) per metre, including compensation for displaced residents, makes the Hoàng Cầu–Voi Phục Road the most expensive road in Việt Nam to date. 

This is over three-times higher than the Kim Liên - Ô Chợ Dừa section (more than VNĐ1.1 billion per metre) and over twice than the Ô Chợ Dừa-Hoàng Cầu section (VNĐ1.4 billion per metre). These two sections also belong to the Belt Road No.1 project.

Deputy Prime Minister Trịnh Đình Dũng has ordered that parking lots and pavements must be constructed with the road and trees planted.

The Hoàng Cầu-Voi Phục road will complete construction of Belt Road No.1, and is expected to help reduce traffic congestion.

The Government has asked Hà Nội’s authorities to work with relevant agencies to study the project’s feasibility and submit a report.

The Ministry of Planning and Investment, Ministry of Finance and Hà Nội’s People’s Committee will be responsible for reviewing and balancing the budget to implement the project.

More than 2,000 houses affected by the road construction are on the land clearance list.

Belt Road 1 runs through Cầu Giấy, Tây Hồ, Ba Đình, Hoàn Kiếm, Hai Bà Trưng, Đống Đa districts from the Nhật Tân Bridge through Nguyễn Khoái,  Trần Khát Chân, Đại Cồ Việt, Xã Đàn, La Thành, Bưởi and Lạc Long Quân roads. It has Ô Đống Mác and Ô Cầu Dền flyovers and Kim Liên underpass. 

So far the expansion of Belt Road 1 on Nguyễn Khoái, Trần Khát Chân, Đại Cồ Việt, Xã Đàn, Ô Chợ Dừa streets has been completed. — VNS