The administration of Hanoi has approved a plan to spend more than VND7.2 trillion (US$310.38 million) on the development of a 2.2-kilometer road, making it the costliest street in Vietnam.

Although the investment capital has been cut from the previous estimate of VND7.8 trillion ($336.27 million), the project remains unmatched in the Southeast Asian country in terms of its tremendous costs, most of which come from site clearance.

The planed new road will be 50 meters wide, running 2,274 meters from Hoang Cau to Voi Phuc intersections in Dong Da District.

It will form the last part of Hanoi’s first belt road Vanh Dai 1, which is comprised of the streets of Nhat Tan, Nguyen Khoai, Tran Khat Chan, Dai Co Viet, Xa Dan, La Thanh, Buoi, and Lac Long Quan, encompassing the core area of the capital city where there will be increased conservation and limited construction.

More than VND5.8 trillion will be spent on site clearance for the Hoang Cau – Voi Phuc section of Vanh Dai 1, including the relocation of over 2,300 households living on the future path.

Around VND628 billion will be spent on the actual construction of the road, while other costs will go into installing lighting and drainage systems as well as growing trees for shades and decoration, according to the plan.

Its development is expected to complete in 2020.

This new section of road, estimated to cost VND3.1 billion ($134,000) per meter, will break the record of the most expensive path in Vietnam, previously set by the other sections of Vanh Dai 1.

The 700-meter O Cho Dua-Hoang Cau section required an investment of VND1.77 trillion ($76.3 million), while the 550-meter Kim Lien-O Cho Dua section cost VND642 billion ($27.68 million). Both

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