On the morning of May 11, Hanoi City People's Council approved the investment policy for the National Highway 1A Space Axis Project, the section from Ring Road 1 to Cau Gie intersection associated with urban embellishment and reconstruction.
The project is proposed to be implemented according to the public-private partnership (PPP) method, a type of construction-transfer (BT) contract, i.e., exchanging land for infrastructure.
According to the Hanoi People's Committee, the project aims to build a modern road, fully meeting technical requirements according to current standards, serving future transportation needs between the central area of the Capital and urban areas such as OceanPark, Trump Organization, Olympic Urban Area, Phu Xuyen urban area, Sun Urban City...
The project also contributes to connecting Hanoi with southern provinces and coastal areas, promoting urban embellishment and reconstruction along National Highway 1A, and socio-economic development in the project area.
The project passes through Kim Lien, Bach Mai, Phuong Liet, Tuong Mai, Dinh Cong, Hoang Mai, Hoang Liet, Yen So wards and Dai Thanh, Thanh Tri, Ngoc Hoi, Thuong Tin, Hong Van, Thuong Phuc, Chuong Duong, Phu Xuyen, Chuyen My, Dai Xuyen communes of Hanoi City.
The starting point of the project connects to Ring Road 1 at the Kim Lien tunnel intersection, belonging to Kim Lien ward, Bach Mai. The ending point connects to Cau Gie in Chuyen My commune.
The road is designed with a cross-section of 90m wide, including 10 lanes on the main route and 6 parallel lanes on both sides.
The total land area used is about 337.3ha.
According to the plan, the project and infrastructure system are expected to be completed in 2027. The project is proposed in the form of a BT contract paid by land fund.
The investor implementing the project is a consortium of Vingroup Group - Joint Stock Company, Cuoc Song Moi Real Estate Investment and Development Co., Ltd., Hoang Van General Trading Co., Ltd., Tuong Lai Investment Research and Development Joint Stock Company.
Preliminary total investment of the project is 169,994 billion VND.
According to the preliminary payment plan, the land fund expected to be paid for the BT contract is studied in the new urban areas of Lien Ha, Bac Hong and Yen Thuong with a total area of about 1,141.13ha. Of which, the new urban area of Lien Ha is about 464.36ha, the new urban area of Bac Hong is about 354.49ha and the new urban area of Yen Thuong is about 322.28ha.
Hanoi City People's Committee said that the study of this land fund will only be carried out after reviewing and maximizing the land funds along both sides of National Highway 1A from Ring Road 1 to Cau Gie intersection.
