Gov’t guarantees capital for HCM City metro project

An elevated section of HCM City’s Ben Thanh – Suoi Tien metro line runs along Ha Noi Highway. - VNS Photo Tu Trung

The project construction is now on schedule, he said.

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 Luong, 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 VND47.3 trillion (US$2.1 billion).

According to the People’s Committee, the city has signed three loan agreements worth VND31.2 trillion ($1.37 billion), of which VND11.93 trillion ($525 million) has been disbursed.

The No 1 Metro project construction has completed 48 per cent 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 per cent.

The second bidding package No 2 from Ba Son to Long Binh Depot in District 9 has completed 74 per cent.

The project’s above-ground construction is progressing quickly along the Ha Noi Highway, where it runs from the Sai Gon Bridge to Suoi Tien Park in District 9.