Foreign consultancy firms needed for Metro line No.5 phase I

The city believes a foreign consultancy firm would ensure objectivity

The Ministry of Planning and Investment (MPI) has proposed the prime minister to approve to hire either foreign consultancy firms or foreign-invested consultancy joint venture units to evaluate the project in order to avoid repeated adjustments after approval, which happened at previous metro lines, according to newswire Vneconomy.

According to MPI, this is a large-scale project which uses complex technology, thus, hiring foreign consultancy firms would ensure objectivity during the evaluation.

According to the plan, the first phase of Metro Line No.5 will have a total length of 8.9km, including 7.46km underground and 1.43km aboveground, with nine stations.

It is expected to have a total investment capital of €1.5 billion ($1.83 billion), including €275 million ($336.5 million) loan from Spain, €475 million ($581.3 million) loan from the ADB, €200 million ($244.7 million) from KfW, €150 million ($183.5 million) from the European Investment Bank, and €462.71 million ($566.3 million) from the city’s budget.

In the first stage, the line will be connected with Metro Line No.1 at Saigon Bridge and Metro Line No.2 at the Bay Hien intersection. The following stage will connect with Metro Line No.3b at the Hang Xanh intersection and Metro Line No.4 at the Phu Nhuan crossroads.

The project’s investment planning is expected to be approved at the National Assembly meetings this year.

On another side, Ho Chi Minh City plans to organise a bidding this year to select investors to develop Metro Line No.5 phase II under the public-private partnerships (PPP) model.

The first phase of Metro Line No.5 is a priority project as it will serve as a transit system among other lines in the city.

Ho Chi Minh City plans to build a total of eight metro lines, one tramway line, and two monorail lines, but currently only Metro Line No.1 between Ben Thanh and Suoi Tien is under construction and is scheduled for completion in 2020.