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Specifically, the construction of a road under the red line of Hoang Cu – Voi Phuc Ring Road 1 was approved by the competent authority, with a length of 2,274 m, cross section B = 50 m, with an area of about 153,341 sqm ( It includes two overpasses along the Ring Road 1 at Giang Vo – Lang Ha and Nguyen Chi Thanh.
To invest in the construction of parking lots, greenery, synchronous joints of technical infrastructure and landscape architecture, including the pavement south of De La Thanh Street at the strip of land between Ring Road 1 and De La Thanh Street, from Hoang Cau section to Lang Ha with an area of about 6,083 sqm.
Project implementation period from 2017 to 2020 with a total investment of VND7,779.3 billion, the apital source of Hanoi city and other legal sources.
Thus, 1km of the project road Hoang Cau – Voi Phuc belt road 1 will cost up to VND3,400 billion(1m of road will cost VND3.4 billion).
This expensive expense has made Hoang Cau – Voi Phuc street become the “most expensive road in the world”, a record set earlier by Kim Lien – O Cho Dua street (VND1.1 billion /m) and O Cho Dua – Hoang Cau street (VND 1.4 billion / m).
It is expected that the project will require 2044 households (Ba Dinh district 1,241 households, Dong Da district 803 households), with the need to resettle 2,239 apartments in the South Central Yen, Southwest Kim Giang 1.
The project to build the Ring Road No 1 from Hoang Cau – Voi Phuc to complete the Ring Road 1 from Nguyen Khoai to Cau Giay according to the plan, connecting the roads that have been invested. To build and increase the area of traffic roads, contributing to the clearance of traffic jams on the network and in the central urban area of Hanoi.
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