|HCM City will spend VNĐ3 trillion from its budget to speed up compensation and site clearance for the Beltway No 3 project. — VNS File Photo|Viet Nam News
HCM CITY — HCM City will allocate VNĐ3 trillion (US$128 million) from the city’s budget to speed up compensation and site clearance for a section of the Beltway No. 3 project, which has been delayed due to a lack of investment, according to Trần Vĩnh Tuyến, deputy chairman of the city’s People’s Committee.
Other provinces and the Cửu Long Corp for Investment, Development and Project Management of Infrastructure will also allocate funds as well.
Bình Dương Province will spend VNĐ2 trillion ($85 million), while Long An Province will allocate VNĐ639 billion ($27 million) for Beltway No. 3.
The project was approved by the Prime Minister in 2011.
The 90-km long beltway is expected to be divided into four sections: from Nhơn Trạch to HCM City, Mỹ Phước to Tân Vạn, Bình Chuẩn to National Highway No 22, and National Highway No 22 to Trung Lương expressway..
The beltway will have four to eight lanes, and a designed speed of 100km per hour
The road project is expected to divide traffic flows into the city, and reduce congestion in the inner city. – VNS