The cost of site clearance for the Ring Road 3 section through Ho Chi Minh City has decreased by more than VND7,200 billion compared to the approved level, from VND18,900 billion to VND11,700 billion after being updated.
The information stated in the official dispatch on the disbursement of compensation, support and resettlement capital related to Ring Road 3 has just been sent by the Department of Natural Resources and Environment to the Standing Committee of the City Party Committee and the People's Committee of Ho Chi Minh City.
Design perspective of Ho Chi Minh City Ring Road 3. Photo: Ho Chi Minh City Traffic Construction Investment Project Management Board
Beltway 3 in the city is more than 47 km long, passing through Thu Duc City, Binh Chanh, Hoc Mon, and Cu Chi districts, with a total clearance area of about 410 hectares, affecting more than 1,700 cases.
Previously, when conducting the pre-feasibility study, the project's cost of site clearance through Ho Chi Minh City was estimated at VND25,600 billion. By the time the project was approved at the end of 2022, this capital source was updated to more than VND18,900 billion.
However, after reviewing the legal documents of the people's land and the compensation land fund, the localities determined that the total compensation and resettlement costs for the project were 11,700 billion VND, a decrease of more than 7,200 billion VND compared to the approved level.
The Department of Natural Resources and Environment said the compensation capital decreased because at the time of the pre-feasibility study, the localities that Ring Road 3 passes through recognized that the capital source for the project needed to be arranged sufficiently to avoid a shortage that would require reporting to the National Assembly for adjustment.
From there, the locality estimates the compensation cost based on the map boundary provided by the HCM City Traffic Construction Investment Project Management Board (investor). The compensation level is calculated at the highest level in the land price coefficient framework.
By the time the compensation project was approved, the people had not provided complete legal documents, leading to the determination of higher compensation costs than the actual. Therefore, after updating the details, the total compensation cost for the project was further reduced.
In addition to the section through Ho Chi Minh City, in the Government's report sent to the National Assembly at the end of September on the Ring Road 3 project, the compensation and site clearance in Dong Nai province also decreased by 15 billion VND compared to the initial estimate.
Route of Ho Chi Minh City Ring Road 3. Graphics: Khanh Hoang
Beltway 3 is over 90 km long, passing through Ho Chi Minh City, Binh Duong, Dong Nai and Long An. Of which, a section of the route over 15 km long through Binh Duong has been completed and the nearly 9 km section (Project 1A) connecting Ho Chi Minh City with Dong Nai is a separate project under construction. The remaining section of over 76 km was started in June this year, expected to be completed in 2026, creating a vital axis connecting the Southern Key Economic Zone.
Gia Minh
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