Deputy Prime Minister Trinh Dinh Dung has just approved the Belt Road 1 construction project at the Hoang Cau–Voi Phuc intersection.
The road is designed to be 2.2 kilometres with a total area of about 153,341 square metres including two flyovers.
The Belt Road 1 from above
The project will cost VND 7.7 trillion (US$339 million), which becomes the most expensive road built so far with a cost of nearly USD150,000 per metre.
The project will be carried out between 2017 - 2020 with US$80 million coming from the city budget and other sources of capital.
Around 2,044 households in Ba Dinh and Dong Da districts have contributed land for the clearance.
In 2015, the city built the 500-metre O Cho Dua-Hoang Cau road route which was also part of the Belt Road 1 project for VND642 billion (US$28 million) which was the most expensive street at that time, totalling VND1.4 billion (US$62,000) per metre. The road route aims at easing traffic jams at inner city of Hanoi.