Ho Chi Minh City and four neighboring provinces have agreed a timeframe to carry out the major Ring Road 4 project, with work expected to start in 2024 and be completed in 2028.
Authorities in HCMC and the provinces of Dong Nai, Long An, Ba Ria-Vung Tau, and Binh Duong discussed on Thursday the investment for the Ring Road 3 and Ring Road 4 projects.
Ring Road 4 will stretch 200 km in total, and HCMC Transport Department director Tran Quang Lam said the five southern localities are preparing for pre-feasibility studies for each section.
The project’s starting point will be the intersection with the Bien Hoa-Vung Tau Expressway project while it will finish at Hiep Phuoc Port in HCMC’s Nha Be district.
Pre-feasibility studies are set to be completed in the second quarter of 2023, investment plans approved within the same year, and selection of investors in Q3/2024.
Ground breaking for the project is scheduled for September 2024, and construction completion and trial test for the whole route in December 2027. The ring road would be opened to traffic and start collecting tolls in Q1/2028.
In terms of financing, the five localities agreed that the three sources should be the national budget, local budgets, and private investors. The first two sources for the public-private partnership (PPP) project will be under 50%, and the rest from private investors.
For Ring Road 3, the HCMC Department of Transport has asked the city's administration to establish a working team to supervise the project to prevent infringements.
The team should be headed by a Department of Planning and Investment leader, supported by assistants and team members from the departments of Construction, Natural Resources and Environment, Justice, Finance; HCMC Police, and city inspectors.
Ring Road 3 will pass through HCMC, Dong Nai, Binh Duong, and Long An provinces with a total length of more than 76 km. It will cost more than VND75.3 trillion ($3.21 billion) to build. The project is divided into eight component projects, and each locality will implement site clearance and construction.
Site clearance has already started in all four localities, while construction will start some time this year.