A map shows the Ring Road No. 3 route passing through HCM City and the provinces of Đồng Nai, Bình Dương and Long An. — Photo www.sggp.org.vn

HCM CITY — The Government has issued a resolution approving investment to restart construction on the Ring Road No. 3 project passing through HCM City and the southern provinces of Đồng Nai, Bình Dương and Long An, after prolonged delays.

Accordingly, the construction of the project is scheduled to restart at the end of June next year and be completed within three years.

The project is identified as one of the city’s key and urgent traffic projects in the 2021-25 period.

Ring Road No. 3 will have a total length of about 76.34km, including 47.51km in HCM City’s Thủ Đức City and the districts of Củ Chi, Hóc Môn and Bình Chánh, 11.26km in Đồng Nai Province’s Nhơn Trạch District, 10.76km in Bình Dương Province’s Dĩ An, Thủ Dầu Một and Thuận An cities, and 6.81km in Long An Province’s Bến Lức District.

The road will have six lanes designed for speeds of 80-100km per hour for commuting and two lanes for emergency stops.

Its total investment is estimated at VNĐ75.4 trillion (US$3.2 billion).

The capital for implementing the road is allocated from the State budget. The central budget will allocate 50 per cent, and the localities of HCM City, Đồng Nai, Long An and Bình Dương are responsible for the other half.

Land acquisition and clearance for the ring road section that runs through HCM City is estimated to cost more than VNĐ26.4 trillion ($1.2 billion). The amount will be sourced from public funds, according to the city’s Department of Transport.

Although the original project was approved by the Government more than 10 years ago, its construction has been delayed repeatedly due to a lack of funds and difficulties in site clearance.

As of now, only the Tân Vạn-Bình Chuẩn section in Bình Dương Province has been completed and opened to traffic.

Authorities in the effected localities have proposed to the Government that a number of specific mechanisms be used to ensure completion of the road as scheduled.

At a conference held in July, leaders of the four localities signed regulations and plans to ensure the progress of the project.

The ring road is expected to reduce traffic congestion in HCM City’s gateways, which is considered a barrier to local economic growth.

It will help to improve inter-regional traffic connections and create a new driving force for socio-economic development in the Southern Key Economic Region. — VNS