The People’s Committee of Hanoi has approved a joint venture as the investor of sub-project No.3 of the Ring Road No.4 project in the Hanoi capital region.

The joint venture comprises  four companies, namely Cityland Ltd.Co, Sunflower Saigon Ltd.Co, Vietnam Expressway Development Investment Corporation (VEC), and Horizon Investment JSC.

The sub-project has total investment of more than VND56.2 trillion ($2.34 billion) and is one of seven sub-projects within the Ring Road No. 4 project. It will be conducted under the Public-Private Partnership (PPP) model.

The Ring Road No. 4 has a total length of 112.8 km, running through Hanoi and its two neighboring provinces of Hung Yen and Bac Ninh,  and covers a combined 1,341 ha,  with total cost estimated at over VND85.8 trillion ($3.6 billion).

The project is scheduled for completion by 2026 and to open to traffic by 2027.