Hanoi to set aside $730.6 million for new square, underground space, bridge
Hanoi is set to spend a huge amount of money to redevelop the public spaces around Hoan Kiem Lake, and build a new bridge connecting the two banks of the Red River.
THE HANOI TIMES — Hanoi is set to invest nearly VND19 trillion (US$730.6 million) in public and underground structures around Hoan Kiem Lake and the Tran Hung Dao Bridge over the Red River.
Dong Kinh Nghia Thuc Square at Hoan Kiem Lake, Hanoi. Photo: Duy Khanh/The Hanoi Times
Accordingly, the city will spend nearly VND2.9 trillion ($111.5 million) on compensation, support, resettlement and redevelopment of the eastern area of Hoan Kiem Lake.
The plan includes the construction of public squares, parks, and underground facilities in the area around Dong Kinh Nghia Thuc Square.
The project will be developed in two phases, with the first focusing on the construction of the above-ground public square and park in the area of Dong Kinh Nghia Thuc Square using public funds.
The second phase will involve building a three-level underground facility under the square and park, which will be connected to the C9 station of the Nam Thang Long-Tran Hung Dao metro line.
As part of the project, the city will have a redevelopment plan for Hoan Kiem Lake and its surroundings, which includes the relocation of 54 structures and houses in the project area, including the offices of Hanoi Department of Culture and Sports, Hanoi Power Corporation, State Treasury Transaction Office, Electricity Hotel, and Northern Power Corporation, and 42 houses.
The Hoan Kiem District People’s Committee will manage the project.
Hanoi also plans to spend nearly VND16 trillion ($615 million) on building Tran Hung Dao Bridge, which will link the districts of Hoan Kiem and Hai Ba Trung on the east bank and the Long Bien district on the west bank of the Red River.
The bridge is 5.6 kilometers long, stretching from the intersection of Tran Hung Dao and Tran Thanh Tong streets in Hoan Kiem District to Vu Duc Than Street in Long Bien District.
Half of the total budget for the bridge, or about VND8 trillion ($307.6 million), will be used for land preparation in the three districts, while the other half will be used for construction.
The Hanoi Project Management Board for Transport Construction will oversee the bridge construction.
