The Hanoitimes - Hanoi is planning to exchange 33.3 hectares of land in the northern districts of Tu Liem and Cau Giay for 3.9 kilometers of road connecting National Highway in the form of Build-Transfer (BT).
The Hanoi Department of Planning and Investment has said on its website that a road connecting National Highway 32 to road 23 (Red river dyke) in the form of BT contract.
Accordingly, Hanoi wants to exchange 33.3ha of land in Tu Liem and Cau Giay districts for the 3.9 km of road.
A BT route in Hanoi
The department has not disclosed the name(s) of the investor(s).
According to the approval, the project has an intersection with national highway 32 at the location between the College of Transport and the University of Industry, Minh Khai ward, Bac Tu Liem district. The end point connects to the dike to turn to road 23 (Red river dyke) in Lien Mac ward, Bac Liem district.
The BT project has an estimated value of VND1.337 trillion (US$58.6) million.The implementation will last from 2018 to 2020.
According to the Department of Planning and Investment, the investment objective of the road is to materialize Hanoi's transport master plan until 2030, with a vision to 2050 approved by the Prime Minister in Decision No. 519 / QD-TTg dated March 31, 2016.
Moreover, it aims to contribute to completing the inter-regional traffic network of the capital, minimizing the traffic pressure for Highway No. 32, Thang Long road and regional roads, facilitating access to Thuong Cat bridge in the future.
The BT format is commonly used in Vietnam for infrastructure projects in major cities with financials constraints.