The 16.7km Tân Vạn - Bình Chuẩn section in Bình Dương Province, the only one section of HCM City’s 98.5km Ring Road No.3 to be completed. — Photo laodong.vn

HCM CITY — Land acquisition and clearance for HCM City’s Ring Road No 3 is estimated to cost more than VNĐ26.4 trillion (US$1.14 billion) to be sourced from public funds, according to the city Department of Transport.

It has called on the city People’s Committee to make it one of the key projects for funding in the 2021-25 period to enable the start of its construction soon. 

The 98.5km road will connect several parts of the southern key economic region, passing through HCM City and Đồng Nai, Bình Dương and Long An provinces.

It is expected to ease congestion at HCM City’s gateways and improve connectivity with neighbouring localities.

It was approved for construction in four sections by the Government 10 years ago.

But only the 16.7km first section of Tân Vạn- Bình Chuẩn in Bình Dương Province has been completed due to a lack of funds and difficulties in acquiring the required lands.

The department wants priority to be given to the third section between HCM City and the Mộc Bài Expressway and the fourth section between the national highway No 22 in HCM City and Bến Lức in Long An Province. — VNS