A map of Ring Road 3 that will run through HCM City and the provinces of Đồng Nai, Bình Dương and Long An. — Photowww.sggp.org.vn

HCM CITY — Over the next 10 years, HCM City will allocate a total of VNĐ24 trillion (US$1 billion) from the municipal budget to build the new Ring Road No. 3.

The first five-year (2021-25) will see an allocation of VNĐ19.5 trillion ($849 million; and the remaining in the 2026-30 period.

The allocation decision was made after the municipal People’s Council passed a resolution on the project proposed by the HCM City People’s Committee for an estimated VNĐ75.3 trillion ($3.3 billion), including VNĐ24 trillion sourced from the city’s budget.

The Ring Road 3 will pass through HCM City and the neighbouring provinces of Đồng Nai, Bình Dương and Long An.  

The project was approved 11 years ago, but only one of the road’s four sections in Bình Dương Province has been completed.

Ring Road 3 has been identified as a key and urgent traffic project for the 2021-25 period.

The People’s Council has asked the city administration to quickly complete dossiers on the project and submit them to the central government so that the latter can seek the National Assembly’s approval.

Since it has been identified as a national key project, the project must be approved by the National Assembly.

The project is divided into eight subprojects: four to do with site clearance and the others involving construction. It will be built with public investment using the budgets of the State and the localities the road will run through.

The 92km-long road will have four lanes, while parallel roads will have two-three lanes each.

The city’s People’s Council has said that land clearance for the project should be completed by the second quarter of 2024, as also change in the land use of 16.8ha of forest in Bình Chánh District’s Phạm Văn Hai Commune.

Work on the project in the city is expected to start in the last quarter of next year.

The city’s Department of Transport has also asked the city to direct relevant departments and agencies to speed up auctions of land along Ring Road 3 to raise funds.

This road is expected to play an important role in stimulating development and improving connectivity in the Southern Key Economic Zone.

It will be linked to national highways No. 1A and No. 22, and the Bến Lức-Long Thành, HCM City-Trung Lương, HCM City-Long Thành-Dầu Giây and HCM City-Mộc Bài expressways.

It will reduce travel time between several localities and reduce the number of vehicles entering the city centre, reducing traffic jams and accidents in the area. — VNS