The HCM City Department of Transport last Friday signed a contract with a consortium of investors to build the Ring Road No.2 section stretching from Pham Van Dong Street to Go Dua intersection on National Highway 1A in HCM City.

The project, with a cost of more than VND2.7 trillion (US$119.4 million), will be developed under the Build-Transfer (BT) mode.

More than VND944 billion (US$41.7 million) will be earmarked for road construction and the remaining VND1.82 trillion (US$80.5 million) will be used for land clearance.

The consortium of investors includes Viet Nam Land Investment Corporation, Van Phu Invest JSC and Bac Ai Building and Construction Advisory JSC.

The 2.7-km section, with a maximum speed of 60 kilometres per hour, will run through Linh Dong, Tam Phu and Tam Binh wards in Thu Duc District.

In the first phase, two new roads with three lanes will be built parallel to the ring road.

Three bridges, including Rach Lung, Rach Ong Viet and Rach Go Cat, with a length of 80 metres each, and water drainage and light systems will also be built in the first phase.

The 64-km Ring Road No.2, with six to 10 lanes, will run from Go Dua intersection to Binh Phuoc intersection, An Suong intersection, An Lac road, Nguyen Van Linh Road and Phu My bridge to HCM City-Long Thanh- Dau Giay Expressway and Ha Noi Highway.

Construction will begin next year on a 30.4-km-long overhead expressway connecting the intersection of National Road No.1 and Ha Noi Highway to Tan Tao-Cho Dem intersection in Binh Tan District, according to the Cuu Long Corporation for Investment, Development and Project Management of Infrastructure (CIPM Cuu Long).

The project, with a cost of VND17.15 trillion (US$758.8 million), will be built under the Build-Operate-Transfer (BOT) mode, with a consortium of investors including CIPM Cuu Long, the 620 Infrastructure Development and Investment Corporation, FECON and Vgroup.

The expressway, with a maximum speed of 80 kilometres per hour, will have four lanes of 17.5 metres wide. — VNS