Government guarantees capital for HCM City metro project
The Government has guaranteed sufficient capital for Ho Chi Minh City’s No1 Metro project linking Ben Thanh Market and Suoi Tien Theme Park, according to Tran Vinh Tuyen, deputy chairman of the municipal People’s Committee.
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The No 1 Metro project is one of the eight metro lines of HCM City Metro project managed by the city’s Management Authority for Urban Railways.
The project includes four major bidding packages using ODA (Official Development Assistance) and funds from Japan International Cooperation Agency (JICA).
HCM City Metro project was the first proposed in 2001 as part of a comprehensive public transport plan for HCM City and neighbouring provinces to mitigate traffic congestion.
It also includes three monorail lines with a total length of 37km and six partly underground metro routes running a total of 107km from Ben Thanh to Suoi Tien, Ben Thanh to Tham Lương, Ben Thanh to Binh Tan, Lang Cha Ca to Van Thanh, Thu Thiem to Can Giuoc, and Ba Queo – Phu Lam.
Ben Thanh will be a hub connecting all the lines.
The PM agreed with the city authorities to approve project adjustments in August 2011. After investment costs were re-calculated by consulting agencies, costs increased to more than 47.3 trillion VND (2.1 billion USD).
According to the People’s Committee, the city has signed three loan agreements worth 31.2 trillion VND (1.37 billion USD), of which 11.93 trillion VND (525 million USD) has been disbursed.
The No 1 Metro project construction has completed 48 percent of its target.
The first bidding package No 1A includes underground stations near the Opera House, while Ba Son in District 1 has completed 57 percent.
The second bidding package No 2 from Ba Son to Long Binh Depot in District 9 has completed 74 percent.
The project’s above-ground construction is progressing quickly along the Hanoi Highway, where it runs from the Saigon Bridge to Suoi Tien Park in District 9.
