Committee Vice Chairman Nguyen Van Khoi said the project would becarried out under the build-transfer (BT) form with a total investmentcapital of about 4.76 trillion VND (226.7 million USD).
Vingroup (formerly Vincom Joint Stock Co) suggested to the Governmentand local authorities in late 2010 that they build the flyover, at atime when Hanoi had approved schemes to build flyovers in ring roadareas.
Prime Minister Nguyen Tan Dung initiallyapproved the plan in 2011, following recommendations from the Ministriesof Construction and Transport.
The new road,expected to be 19m wide and 10m above the ground, would connect VinhTuy Bridge and the Nga Tu So interchange. It would pass over thedistricts of Thanh Xuan, Dong Da, Hai Ba Trung and Hoang Mai.
About 10.4ha of land would be needed for the project, which could begin this year and be completed by 2016.
According to the People's Committee Chairman, Nguyen The Thao, theflyover is among 37 key projects to be developed in the city by 2015.-VNA