More Than $3 Billion Closed Three Ring Roads In Ha Noi

The Hanoi People’s Committee has just petitioned the Prime Minister to allow the application of specific mechanisms to select closed investors Ring Road 2.5; 3,5 and 4 with a total investment of more than $3 billion.

Some urgent transport projects were requested by the Hanoi People’s Committee for specific mechanisms such as investment in bridges and roads on Ring Road 4 (Me So and Hong Ha bridges); Duong 2 bridge and the road to Bac Ninh province; Giang Bien bridge and connecting road at the two ends (linking Vinh Tuy bridge, Ring Road 2 to Ninh Hiep border).

Need specific mechanism

The 2.5 Ring Road project includes the sections from Trung Kinh Street – Tran Duy Hung street with a length of 0.57 km, total investment capital of over $52 million. The Nguy Nhu Kom Tum – Nguyen Trai – Dam Hong has a length of 2.53 km, total investment capital is over $118 million. The section from the new urban area Dich Vong – Duong Dinh Nghe 0.72 km long with a total investment of $42,190. Ring Road 2.5 projects are implemented in PPP (Public-Private Partnership), BT (Build-Transfer) contracts and expected completion in 2019.

According to the Hanoi People’s Committee, the above projects, if invested, will complete and close the 2.5 Ring Road, ensuring the synchronous connection of roads between large urban areas that have been built along both sides of the road, contributing to reducing local congestion and regional socio-economic development, connecting radial roads, allocating traffic and reducing traffic pressure for Ring Road No.2 and Ring Road No.3.

FLC group

FLC is in the position of the No. 1 real estate developer in Vietnam, as it is more aggressive in investing in affordable housing. In this photo is a cheap housing project of FLC Group in Nam Tu Liem district.

With the 3.5 Ring Road project, Ha Noi proposed to build Thuong Cat Bridge (including two ends of the bridge) with a length of 4.5 km, total investment capital of over $727 million in the form of PPP investment with BT / BOT contract, completed in 2021; The project to build a section from Thuong Cat Bridge to Highway 5 with the investment scale of 4km will need about $72,7 million, which is expected to be completed by 2020; The project to build a section from Thuong Cat Bridge – National Highway 32 3 km long, total investment capital of about $72,5 million, put into operation in 2020; The project to build another intersection between 3.5 Ring Road and Thang Long avenue including overpass and revolving (3 floors) need to invest $116 million and complete in 2020; The project from Phuc La – Van Phu to Pho Van – Cau Giay expressway is 10.8 km long and has a total investment capital of about $191 million.

>>>See more information about the real estate news, here: Vietnam real estate news

Hanoi People’s Committee proposed the specific mechanism to gradually complete the transport infrastructure in accordance with the planning, connecting with the routes have been and are being invested to build, support and promote investment efficiency such as 5-way drag Long, Nhat Tan – Noi Bai, Mai Dich – Noi Bai – Thuong Cat Bridge … New traffic system will support and reduce the load for Thang Long Bridge; to create the necessary infrastructure for socio-economic development in North Thang Long – Dong Anh and northern Tu Liem District.

Many investors are interested

As for Ring Road 4, Hanoi calculates the investment for the construction of the Me So bridge and the 4-km long bridge with total investment capital of nearly $295,5 million and is expected to be completed in 2020; Hong Ha bridge construction project and two-way bridge at 6 km long, investment capital of about $445,5 million; Traffic project from Ha Noi – Lao Cai Expressway (km3 + 650) to National Way 32 (km9 + 500), from National Highway 32 to Phap Van – Cau Gie highway with investment scale of 34km with the capital of about $895 million.

FLC group

Vingroup “rejected” cheap housing model, “giants” FLC fast footstool

According to the Hanoi People’s Committee, the project, if it is invested, it will meet transport demand, relieve pressure on Ring Road 3 and connect to Highway 32, along with sections of Ring Road 4 to the southwest to invest to connect to Highway 6, Phap Van-Cau Gie (Highway 1A), connecting with Ha Noi – Hai Phong Expressway, Highway 5 … to create momentum to gradually form Ring Road 4 to plan and promote the socio-economic development in the southwestern region of Hanoi and its vicinity. It is known that with the projects of Ring Road 4, Hanoi also set a roadmap for implementation, put into operation in 2020.

Referring to the ability to draw capital into these traffic projects, Hanoi plans to arrange capital by exploiting land funds in some areas that have bid policy in the Cau Giay District; Tay Ho, Dong Anh District, Gia Lam … or neighboring areas where the project passes. In addition, there have been many competent domestic investors interested in proposing and allowing the implementation of the above projects in the form of PPP, BT or BOT. Hanoi People’s Committee has directed the development of land use plans to ensure sufficient land funds to pay for investment projects in the form of BT.

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