Government guarantees capital for HCM City metro project

An elevated section of HCM City’s ​Ben Thanh – Suoi Tien metro line runs along ​Hanoi Highway. (Photo: VNA) HCMCity (VNA) – The Government has guaranteed sufficient capital forHo Chi Minh City’s No1 Metro project linking Ben Thanh Market and Suoi TienTheme Park, according to Tran Vinh Tuyen, deputy chairman of the municipalPeople’s Committee. The project construction is now on schedule, hesaid.   The No 1 Metro project is one of the eight metrolines of HCM City Metro project managed by the city’s Management Authority forUrban Railways.The project includes four major bidding packagesusing ODA (Official Development Assistance) and funds from Japan InternationalCooperation Agency (JICA).HCM City Metro project was the first proposed in2001 as part of a comprehensive public transport plan for HCM City andneighbouring provinces to mitigate traffic congestion.It also includes three monorail lines with atotal length of 37km and six partly underground metro routes running a total of107km from Ben Thanh to Suoi Tien, Ben Thanh to Tham Lương, Ben Thanh to BinhTan, Lang Cha Ca to Van Thanh, Thu Thiem to Can Giuoc, and Ba Queo – Phu Lam.Ben Thanh will be a hub connecting all thelines.The PM agreed with the city authorities toapprove project adjustments in August 2011. After investment costs werere-calculated by consulting agencies, costs increased to more than 47.3trillion VND (2.1 billion USD).According to the People’s Committee, the cityhas signed three loan agreements worth 31.2 trillion VND (1.37 billion USD), ofwhich 11.93 trillion VND (525 million USD) has been disbursed. The No 1 Metro project construction hascompleted 48 percent… [Read full story]

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