HCMC – The HCMC Department of Natural Resources and Environment is expected to set  compensation rates for households affected by the Beltway No. 3 project, which would range from VND18.7 million to VND40.1 million per square meter.

The department has just written to the HCMC management board for investment and development of traffic infrastructure projects for feedback on the compensation plan.

The prices were estimated after the city had consulted three other departments — Finance, Planning-Investment and Natural Resources-Environment.

The HCMC Department of Natural Resources and Environment said that the prices were temporary. When starting the compensation, support and resettlement processes, the governments of districts – through which the ring road will pass – will cooperate with consulting units to appraise the prices in detail before submitting a report to the Land Price Appraisal Council and the HCMC government for consideration.

Beltway No. 3 connects HCMC, Binh Duong, Dong Nai and Long An, with a total length of over 76 kilometers, of which 47 kilometers will sprawl through HCMC’s Thu Duc City and three outlying districts of Cu Chi, Hoc Mon and Binh Chanh. The total land for clearance in HCMC will be some 397 hectares, with 1,670 households affected.

As planned, 70% of land for the project will be handed over in mid-2023, while the land handover will be completed in late 2023. However, the city is striving to complete the land handover earlier.

The beltway project, which will be divided into eight components and require VND75.3 trillion in investment, is considered a strategic route to increase connectivity and boost economic growth in the key southern economic zone.