The Hanoitimes - Hanoi will grant 39.8 hectares of land in Nam Tu Liem district in exchange for a road from Le Trong Tan street to belt road 3.
The Hanoi Department of Planning and Investment has just announced the project to build a road from Le Trong Tan street to Ring Road 3, located in Thanh Xuan district.
The 2.85-kilometer road will be constructed in the form of Build-Transfer (BT) between 2018 and 2020.
Hanoi exchanges 39.8 ha of land in Nam Tu Liem with a 2.8 km route
The cost of the project is estimated at VND1.41 trillion (roughly US$62 million), equivalent to US$21.8 per kilometer.
According to the Hanoi People's Committee, the road will be 30 meters wide. Parallel, infrastructure, water supply and drainage, fire protection, trees, lighting, pavements will be constructed.
The construction route is aimed at synchronously connecting with the local road network, linking ring roads of 2; 2.5 and 3, contributing to reduction of traffic congestion for Nguyen Trai street, Giai Phong street, ring road 2, ring road 3 to give a push to socio-economic development in districts of Thanh Xuan, Hoang Mai, Ha Dong.
At the conference "Hanoi 2018 - investment cooperation and development", June 17, the local government handed over the investment certificate to the investor of this project.