On September 6, in Noi Bai commune (Hanoi), the Hanoi People's Committee and the City Traffic Construction Investment Project Management Board coordinated with Hanoi Ring Road 4 Expressway Joint Stock Company to organize the groundbreaking ceremony of Component Project 3: Investing in the construction of the expressway under the public-private partnership (PPP) method under the Hanoi Ring Road 4 project.
Hanoi Ring Road 4 Expressway Joint Stock Company is the representative of the joint venture of City Real Estate Investment Company Limited, Saigon Huong Duong Flowers Company Limited, Vietnam Expressway Development Investment Corporation and Horizon Investment Joint Stock Company Limited.
Identified as a national key project, Ring Road 4 has strategic significance in developing transport infrastructure, enhancing regional connectivity, directly connecting Hanoi with neighboring provinces and synchronizing with the expressway system - radial axis.
This will be the new traffic artery of the Capital region, contributing to promoting socio-economic development, attracting investment, forming new satellite cities and growth poles.
Component project 3 - the central expressway section of the route is about 113.52km long, with a cross-section of 17m. The large bridges across the river are 24.5m wide, ensuring modern technical standards. In phase 1, the cross-section of the route is designed to meet the traffic volume of 4 lanes.
The entire route has 13 elevated sections with a total length of 80.985km, accounting for more than 71%. The project will arrange 3 large bridges across the river including Hong Ha, Me So and Hoai Thuong, along with 8 interconnecting intersections and one comprehensively completed intersection.
According to Decision 6479/QD-UBND dated December 20, 2023 of the Hanoi People's Committee, the total investment of component project 3 is VND 56,293 billion. Of which, the State budget capital accounts for 47.5%, while 52.5% is capital guaranteed by investors under the public-private partnership (PPP) mechanism. The construction period according to the signed contract is 30 months.
Speaking at the ceremony, Vice Chairman of the National Assembly Vu Hong Thanh emphasized that the Ring Road 4 project in the Capital Region, especially component 3, not only has the meaning of opening new development space for the Capital and neighboring provinces, but is also an important driving force for regional economic development, job creation, and improving people's lives.
Mr. Thanh requested ministries, branches, localities, investors and construction units to promote the highest sense of responsibility, ensuring progress, quality, safety and transparency throughout the implementation process.
Mr. Truong Viet Dong, Chairman of the Board of Directors of Vietnam Expressway Corporation - VEC, said that the contractor is committed to mobilizing sufficient finance, equipment, and human resources to strive to complete and hand over the Component Project 3 for operation before the contract deadline.
With the role of "new traffic corridor" of the Capital region, the expressway on Ring Road 4 is expected to create a strong breakthrough, promote investment attraction, develop satellite cities, form new growth poles, thereby contributing to realizing the goal of building Hanoi into a modern, civilized, beautiful city, spreading development momentum to the Northern provinces.
