Total investment for Hà Nội's Ring Road 4 set to decrease by $85.9 m
Deputy Prime Minister Trần Hồng Hà chairs a meeting on the implementation of the investment project to build the Ring Road 4 in Hà Nội Capital Region on Thursday morning in Hà Nội.—VNA/VNS Photo Minh Đức |
The calculation was revealed following a review by the People's Committee of Hà Nội in conjunction with the People’s Committees of Hưng Yên and Bắc Ninh provinces at a meeting held on Thursday morning in Hà Nội.
The meeting was organised to discuss the investment project to build the Ring Road 4 in the Hà Nội metropolitan area.
More specifically, the total investment for sub-project 1.1, which focuses on clearing land in Hà Nội, is expected to be reduced by about VNĐ650 billion ($26.2 million).
Meanwhile, sub-project 3, which focuses on the highway construction itself and is financed through a public-private partnership, is forecast to see a reduction of around VNĐ3.319 trillion ($133.8 million) in investment capital.
Conversely, sub-project 1.2, which will carry out land clearance in Hưng Yên Province, is projected to increase by VNĐ600 billion ($24.2 million), and sub-project 1.3 to clear land in Bắc Ninh Province is set to rise by VNĐ1.24 trillion ($50 million).
During the meeting, Deputy Prime Minister Trần Hồng Hà urged local authorities to adopt a proactive and flexible approach in addressing issues related to adjustments in the investment capital for the Ring Road 4 sub-projects, in line with their respective powers.
For sub-project 3, Hà ordered the People's Committee of Hà Nội to continue reviewing and specifying the structure of State capital participation.
He asked the municipal authorities to collaborate with the provinces of Hưng Yên and Bắc Ninh to propose reallocating the reduced central Government funding from sub-project 1.1 to sub-project 3.
Additionally, the Ministry of Transport was tasked with identifying the responsibilities of the consultants regarding the inaccurate and incomplete determination of land acquisition and clearance areas, which necessitated significant budget adjustments.
Also at the meeting, officials from the provincial People’s Committees of Hưng Yên and Bắc Ninh said they would allocate local budgets to supplement the increased funding for sub-projects 1.2 and 1.3.
Deputy Chairman of Ha Nội's People's Committee Dương Đức Tuấn said that the investment project for the construction of Ring Road 4 was approved by the National Assembly under Resolution No. 56/2022/QH15 on June 16, 2022.
The project spans a total length of 112.8km, traversing Hà Nội, Hưng Yên and Bắc Ninh, with a preliminary total investment of VNĐ85.8 trillion ($3.46 billion). Approximately 58.2km of the road will go through the Hà Nội region, 19.3km through Hưng Yên and 25.6km across Bắc Ninh, along with an additional connecting stretch of 9.7km.
The project is implemented through seven sub-projects, each operating independently and managed by the People's Committees of the three localities involved.
Three of the sub-projects (1.1, 1.2 and 1.3) are focused on compensation and resettlement for residents in each locality and are funded entirely by public investment capital. Three other sub-projects (2.1, 2.2 and 2.3) are focused on constructing parallel roads in each locality, and are also financed by public investment capital. Sub-project 3, the final sub-project, involves the construction of a highway system and is funded through a public-private partnership model.
During the meeting, officials from relevant ministries also discussed a proposal from the People's Committee of Hà Nội regarding the reallocation of reduced funds from sub-project 1.1 to invest in several connecting branches at five interchanges and two overpasses, ensuring the connectivity of the parallel road sections in Hà Nội.
Some suggestions were made for public investment sub-projects to construct the Hồng Hà, Mễ Sở and Hoài Thượng bridges, along with several road sections within sub-project 3, to ensure that even if sub-project 3 is not completed, the connectivity of the entire parallel road is still maintained.
See also
Night flights added at six airports to meet rising travel demand during Tet
15:12 | 14/11/2024 Society
Vietnamese universities strive to attract international students
11:43 | 13/11/2024 Society
Social network users must authenticate accounts from December 25
17:10 | 12/11/2024 Society
Long Thanh Airport’s runways expected to be completed three months ahead of schedule
15:57 | 12/11/2024 Society
Specific policies proposed for North-South high-speed railway project
11:38 | 12/11/2024 Society
Bến Thành - Suối Tiên metro line operates at 100% capacity in trial run
09:04 | 12/11/2024 Society
See more news
Hà Nội to restrict polluting vehicles across key districts
08:36 | 11/11/2024 Society
NA Chairman attends national great unity festival in Ha Nam
18:56 | 10/11/2024 Society
Hanoi makes efforts to link handicrafts with tourism
16:54 | 10/11/2024 Society
Elevated section of Hà Nội metro line 3 officially inaugurated after three months' commercial runs
09:46 | 10/11/2024 Society
HCM City aims to become ASEAN healthcare hub by 2030
17:14 | 09/11/2024 Society
Việt Nam’s path to sustainable poverty reduction
09:48 | 08/11/2024 Society
Metro line connecting capital with airport needed
15:04 | 07/11/2024 Society
Military aircraft crash in Binh Dinh: Both pilots found safe
11:43 | 07/11/2024 Society
Shortage of vaccines is due to procurement procedures: MoH
10:57 | 07/11/2024 Society
1,400 ha Phu My port planned in Binh Dinh
09:52 | 06/11/2024 Society
Party chief visits residents, soldiers on Bach Long Vi island
15:41 | 14/11/2024 News and Events
State President meets with President of Peruvian Council of Ministers in Lima
15:33 | 14/11/2024 News and Events
Parliamentary cooperation – a key pillar of Việt Nam-Peru relations: leaders
15:25 | 14/11/2024 Cooperation
Rattan, bamboo, sedge, and carpet exports gross US$594.8 million
15:19 | 14/11/2024 Trade
Night flights added at six airports to meet rising travel demand during Tet
15:12 | 14/11/2024 Society
Multimedia
Vietnam actively contributes to APEC
08:59 | 14/11/2024 Infographic
Vietnam’s national brand value reaches 507 billion USD in 2024
17:06 | 11/11/2024 Infographic
Vietnam-Chile Comprehensive Partnership
09:51 | 10/11/2024 Infographic
Vietnam manufacturing returns to expansion
13:31 | 09/11/2024 Infographic
Vietnam's key contributions to ACMECS
11:02 | 07/11/2024 Infographic
PM urged parliament to pass legislation to ensure sufficient electricity, restart nuclear projects
09:47 | 13/11/2024 Policy
New policy drafted to help non-bank credit institutions develop further
17:13 | 12/11/2024 Policy
Việt Nam to stiffen regulations on violating social network platforms
16:23 | 12/11/2024 Policy
Party leader of Việt Nam holds phone talks with President-elect of US
08:55 | 12/11/2024 Policy
Construction material industry's revenue to reach 47 billion USD
11:40 | 13/11/2024 Industry
Footwear industry eyes UKVFTA to bolster exports
10:00 | 11/11/2024 Industry
North-South express railway – driving force to spawn new support industries
17:09 | 08/11/2024 Support industries
Automotive support industry strives to become spare part supplier
09:34 | 08/11/2024 Support industries
Bac Giang prioritises high-tech FDI projects, services industry
17:04 | 12/11/2024 FDI
Vietnam draws new wave of high-value investments: Savills
19:30 | 10/11/2024 Investment
Hanoi attracts 1.6 billion USD in FDI in ten months
15:18 | 07/11/2024 Investment
Foxconn to invest US$80 million in Bắc Giang for chip manufacturing expansion
16:16 | 04/11/2024 Investment
UK stands ready to help Vietnam build international financial hub
17:13 | 13/11/2024 Finance-Banking
S&P affirms Techcombank’s BB- rating
10:10 | 11/11/2024 Finance-Banking
Tax sector fulfils nearly 95% of state budget collection target
15:38 | 09/11/2024 Finance-Banking
Việt Nam's stock market moves closer to emerging market status amid key policy changes
18:05 | 06/11/2024 Stock Market
Hà Nội requires comprehensive emission data to develop effective air pollution control plan
15:03 | 14/11/2024 Environment
Vietnam looks towards Net Zero goal in agriculture
17:25 | 12/11/2024 Environment
Holistic approach needed to improve glass recycling
11:31 | 12/11/2024 Environment
Storm Toraji intensifies and moves northwest in East Sea
08:58 | 12/11/2024 Environment
4G mobile network coverage reaches 99% of Vietnamese population: Minister
16:51 | 13/11/2024 Science - Technology
Quang Ninh to host 3rd Vietnam Int'l Digital Week next week
17:11 | 12/11/2024 Science - Technology
Việt Nam's new fast track policies to boost high-tech investment environment set for approval
09:33 | 09/11/2024 Science - Technology
Practical innovations
09:15 | 06/11/2024 Science - Technology
Night flights added at six airports to meet rising travel demand during Tet
15:12 | 14/11/2024 Society
Vietnamese universities strive to attract international students
11:43 | 13/11/2024 Society
Social network users must authenticate accounts from December 25
17:10 | 12/11/2024 Society
Long Thanh Airport’s runways expected to be completed three months ahead of schedule
15:57 | 12/11/2024 Society
Hà Nội to host large-scale international fair for key industrial products in 2025
16:54 | 12/11/2024 Vietnamese Brands
Agriculture, craft village festival to be held in Hà Nội
16:49 | 12/11/2024 Vietnamese Brands
Vietnamese Goods Week brings vibrant showcase to Thai province
10:16 | 08/11/2024 Vietnamese Brands
Sóc Trăng’s ST25 fragrant rice awarded 5-star OCOP rating
11:05 | 07/11/2024 Vietnamese Brands
Kiên Giang to host Khmer cultural festival
16:45 | 13/11/2024 Culture
Two Vietnamese artists nominated for Grammy Awards
17:02 | 12/11/2024 Culture
Great Solidarity of Ethnic Groups Week to take place next week
09:55 | 08/11/2024 Culture
Famous musical star Philip Quast to perform and share experiences in Hà Nội
09:40 | 06/11/2024 Culture
Vietnam promotes int’l cooperation in MICE tourism development
14:47 | 14/11/2024 Tourism
2025 Nha Trang – Khanh Hoa Sea Festival to spotlight cultural heritage space
17:04 | 13/11/2024 Tourism
Việt Nam to welcome more international cruise ship tourists
16:36 | 13/11/2024 Tourism
Bình Thuận tourism aims for green, sustainable development
17:06 | 12/11/2024 Tourism