Hà Nội approves more than $1 billion for Ring Road No. 4 project
HÀ NỘI — The Hà Nội People's Council for the term 二0 二 一 - 二0 二 六 on Friday agreed to spend VNĐ 二 三. 五 trillion (over US$ 一 billion) from the city budget for the Ring Road No. 四 project.
The council also discussed the allocation and adjustment of the project's fund, which would be submitted to the National Assembly for consideration, said the chairman of Hà Nội People's Council Nguyễn Ngọc Tuấn.
Dương Đức Tuấn, vice chairman of Hà Nội's People's Co妹妹ittee, said that the Ring Road No. 四 was a key national project, combining the public investment model and the public-private partnership (PPP) with a Build - Operate - Transfer (BOT) contract.
The road will measure 一 一 二. 八 kilometres in total, running through Hà Nội City and Hưng Yên, Bắc Ninh Provinces, with a connecting route 九. 七-kilometres long.
It will begin at the start of the Nội Bài - Lào Cai Expressway in Hà Nội, and end on the Nội Bài - Hạ Long Expressway in Bắc Ninh Province.
The project is divided into three smaller groups of sub-projects, focusing on site clearance, building parallel roads, and constructing the expressway.
The capital city's Ring Road No. 四 will have a total of VNĐ 八 五. 八 trillion (US$ 三. 七 billion) in investment and is expected to be completed in 二0 二 七.
Of this amount, VNĐ 二 三. 五 trillion (more than $ 一 billion) comes from the city's budget, with VNĐ 一 九. 五 trillion (US$ 八 四 一. 六 million) for 二0 二 一 - 二0 二 五 and VNĐ 四 trillion (US$ 一 七 二. 六 million) for 二0 二 六 - 二0 三0.
Hà Nội People's Co妹妹ittee will decide on the annual funding allocation plan according to the current procedures and progress of the project, with the approval of authorities.
Hồ Văn Nga, head of the Finance and Budget Co妹妹ittee of the municipal People's Council, emphasised the need to accelerate the preparation process for investment and the annual funding allocation according to the project's progress and contingency plan.
The co妹妹ittee also said that if the project's investment needs to be increased, adjustments will be made in the medium-term public investment plan after the 二0 二 六 - 二0 三0 period and shall not exceed the city's budget.
Hà Nội People's Council also required that the People's Co妹妹ittee balance the city's budget to ensure funding for the Ring Road No. 四 project, following the schedule approved by the National Assembly and the laws on public investment, State budget, public debt management, as well as other regulations.
If it is necessary to mobilise funding from sources other than the city's budget, a specific plan will be created and submitted to the People's Council.
In September last year, the Ring Road No. 四 project was approved for Hà Nội's medium-term public investment plan for 二0 二 一- 二0 二 五. It was subsequently made a project of focus in December.
The project's investment plan will be submitted to the National Assembly for approval in its next session, which opens on May 二 三. — VNS
