Vingroup kicks off $418 million flyover project to ease traffic bottlenecks in Hanoi
By Tieu Phong
April 24, 2018 | 07:29 AM GMT+7
The $418-million project is 5.1 kilometres long, passing four districts namely Hoang Mai, Hai Ba Trung, Thanh Xuan and Dong Da, invested by Vingroup in the forms of Build - Transfer and Private - Public Partnership.
The representatives pressed the button to initiate the project.
On April 22nd, the Hanoi People's Committee held the groundbreaking ceremony for constructing the flyover connecting Vinh Tuy and Nga Tu So and widening the road from Vinh Tuy to Nga Tu Vong.
The total investment capital of the project is nearly VND9,500 billion (roughly $418 million), of which the site clearance cost takes up almost a half. The project will be implemented from 2018 to 2020.
Once the project implemented, the riding time connecting the two black hotspots will be shortened owning to easy traffic congestion and convenient separate overpass system.
Vingroup is responsible for all the costs of the preparation and construction of the project. The contract is carried out in the forms of private - public partnership (PPP) and build-transfer (BT) contract.
The total length of the flyover is 5.1 kilometres and 19 metres wide, which will be newly built with lighting, drainage, and signpost systems. The road from Vinh Tuy to Nga Tu Vong will be extended to be 3.1 kilometres long, with the cross-section from 53.5 to 63.5 metres wide.
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