Investment capital needed for site clearance for the construction of the section of Ring Road No. 3 running through Ho Chi Minh City is estimated at VND11.7 trillion ($487 million), according to the municipal Department of Natural Resources and Environment.
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The figure was down by VND7.2 trillion ($300 million) compared to the initial investment capital estimated in the feasibility study for the project, equivalent to a decline of nearly 60 per cent.
The capital was adjusted after authorities in districts where the road will run through reviewed legal documents relating to the land ownership of affected households, the land fund used for compensation, and the compensation price.
Ring Road No. 3 has a total length of over 76 km, connecting the southern city with neighboring Dong Nai, Binh Duong, and Long An provinces and other localities in the region. The section running through Ho Chi Minh City stretches 47 km.
It will have four lanes and a maximum speed of 100 kph.
Total investment is estimated at nearly VND75.4 trillion ($3.14 billion).