HCM City continues Belt Road 3 project with ADB loan
Ho Chi Minh City will use a 278 million USD loan from the Asian Development Bank (ADB) for the fourth phase of Belt Road 3 project extending from National Highway No. 22 to Ben Luc district in Long An province.
Part of the Belt Road 3 project located in Binh Duong province (Photo tuoitre.vn)HCM City (VNA) – Ho Chi Minh City will use a 278 million USD loan from the Asian Development Bank (ADB) for the fourth phase of Belt Road 3 project extending from National Highway No. 22 to Ben Luc district in Long An province.
Belt Road 3 will be 28.9km long and is expected to be complete in 2020, according to Diưp Bao Tuan, deputy director of the transport ministry’s Cuu Long Corporation for Investment, Development and Project Management of Infrastructure.
ADB has funded a total of 47km for the project from Binh Duong province’s Thuan An district to National Highway No 22 in HCM City’s Hoc Mon district, as well as from National Highway No 22 to Ben Luc district in Long An province.
The Belt Road 3 project, which received approval from the Prime Minister, has a total length of 89.3 km and runs through HCM City and the provinces of Dong Nai, Binh Duong and Long An.
The project has six lanes with 80-100km/h speed will be used for commuting and two lanes will be used for emergency stops.
The road, which will connect highways and national roads, is expected to reduce congestion in the inner city and boost inter-provincial transport services.
The project has total investment of 55.81 trillion VND (2.45 billion USD) sourced from the State budget, Official Development Assistance and the private sector.-VNA
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