$340 million road opens for traffic in HCM City  A five-kilometre section of the Tan Son Nhat- Binh Loi Outer Ring Road in HCM City opened to traffic on Saturday. It has 12 lanes and runs from Nguyen Thai Son intersection not far from the airport to National Highway 13. The 1.1km, 12-lane Binh Loi Bridge across the Sai Gon River is on the highway, which is named under after former Prime Minister Pham Van Dong. The bridge is expected to serve around 40 per cent of the traffic crossing the Sai Gon River from the city. It is an important part of the ring road, serving to connect Tan Son Nhat International Airport with industrial parks in Binh Duong Province through National Highway 13. It is expected to help reduce traffic, accidents, and pollution on severely congested roads like Xo Viet Nghe Tinh, Dinh Bo Linh, Bach Dang, Phan Dang Luu, and Phan Van Tri streets. The ring road, to measure a total of 13.6km, starts at the airport in Tan Binh District and will end in Thu Duc District at National Highway 1. It will run through the districts of Go Vap and Binh Thanh. It will cost nearly US$495 million, with land and relocation accounting for $281.3 million. Construction began in 2008. It is 75 per cent complete and expected to be finished next year. It is the country's first BT (build - transfer) project in collaboration with a foreign partner, South Korea-based GS E&C Company, Nguyen Huu Tin, deputy chairman of the city People's Committee, said. Nearly 4,000 households with 30,000 people had to be relocated for the work, he added. The new road in pictures: VNA/VNN