France grants aid to Hanoi metro route

March 01, 2014 | 09:19

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The French Development Agency (AFD) has committed a EUR110.5 million aid package, including EUR0.5 million in non-refundable aid, to Hanoi’s metro line project.

The route, running from the Hanoi Railways Station to Nhon, has 12.5km in length, with 8.5km overground and 4km underground, and is scheduled to be put into operation by 2018.

The route will be extended to 21km by 2020 and 48km by 2030.

The project aims to meet the demand of half the number of local people travelling by public transport, minimize urban pollution, and improve the people’s living conditions. It will help ease traffic congestion and reduce green house effects.

The route is designed to serve 230,000 passengers per day by 2018, 428,000 by 2020 and 750,000 by 2030.

Other stakeholders of the project are the Reserve for Emerging Economies (RPE) under the French Ministry of Economy and Finance, the Asian Development Bank (ADB), and the European Investment Bank (EIB).

The project has also received EUR1.27 million in non-refundable aid package from the French Global Environment Facility (FFEM).

It will be carried out by the Hanoi Metropolitan Railway Management Board (MRB) and the French Systra Corporation at a total cost of nearly EUR1.2 billion.

The French Development Agency is considering an additional EUR 70 million in loans for the project.

VOV

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