Hanoi will build 13 resettlement areas at a cost of VND13.36 trillion (US$563 million) for households affected by the construction of the Ring Road No. 4 project.
The fund will come from central and local budgets, according to a decision signed by Hanoi People’s Committee Chairman Tran Sy Thanh.
Of the total fund, nearly VND11.3 trillion will be used for compensation, VND530 billion for relocating high-voltage power transmission lines, VND960.9 billion for the construction of resettlement areas, VND7.58 billion for making the feasibility report, and VND611.2 billion for other costs.
Land area to be used for the construction of Ring Road No. 4 is approximately 812.07 ha, covering seven districts, Soc Son, Me Linh, Dan Phuong, Hoai Duc, Ha Dong, Thanh Oai and Thuong Tin.
The 13 resettlement areas will need 39.28 ha in five districts, which are Me Linh, Dan Phuong, Hoai Duc, Thanh Oai and Thuong Tin.
The site clearance work is expected to be completed this year so that the entire subproject can be finished next year.
The construction of Ring Road No. 4 in the capital city is an important project contributing to the expansion of development space for the capital.
It will reduce population density and traffic congestion in the inner city and gradually change the economic structure of the area along the road and the suburbs.
The road will also strengthen connectivity and create motivation and breakthroughs in the socio-economic development of Hanoi and neighboring areas.
The project has total length of 112.8 km, scheduled to be basically completed in 2026 and put into use in 2027.
To reach the target, at least 70% of the construction site must be handed over to the investor by June this year and the site clearance work must be finished by the end of this year.
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