Hanoi to develop comprehensive and modern urban metro lines

July 05, 2024 | 10:51
(0) user say
Hanoi plans to invest over $55 billion to build a synchronised and modern urban railway network.
Hanoi to develop comprehensive and modern urban metro lines
Hanoi to invest in developing comprehensive and modern urban metro lines

On July 1, a comprehensive and modern urban railway system plan was revealed by director of Hanoi Department of Transport Nguyen Phi Thuong during the meeting of the 16th Hanoi People’s Council. The plan outlines objectives, implementation methods, and an estimated budget for constructing an urban railway network in the capital.

Hanoi has set ambitious objectives for its urban transportation system, focusing on developing a synchronised and cutting-edge urban rail network. The initiative aims to meet the capital’s growing public transit demands while restructuring the city’s transport modes towards sustainability and efficiency. Specifically, the plan is expected to play a crucial role in alleviating traffic congestion, reducing air pollution, enhancing overall urban liveability, and creating a driving force for regional connectivity in the capital.

City planners have outlined a two-phase approach. By 2035, the aim is to increase public passenger transport usage by 50 to 55 per cent. Following 2035, the target rises to an impressive 65 to 70 per cent, signalling a major shift in how Hanoi’s residents will navigate their city in the coming decades.

“To reach the goal, Hanoi has established a strategy known as ‘one plan, three investment phases’. Total investment for all three phases is estimated at $55 billion,” said Thuong.

In the 2024-2030 phase, the target is to complete the construction of 96.8km (including lines 2, 3, and 5), about 24 per cent of the total length of urban rail lines according to the Hanoi Capital Transport Planning approved in Decision No.519/QD-TTg.

In the 2031-2035 phase, the goal is to complete the construction of 301km (including metro lines 1, 2A extended to Xuan Mai, 4, 6, 7, and 8, and metro lines connecting satellite urban areas). The preliminary capital requirement for this phase will be approximately $22.57 billion.

Hanoi expects to balance about $28.56 billion by 2035. By 2045, it may balance about $29.21 billion, sufficient to meet the needs of this phase. Thus, from now until 2035, Hanoi will need central government support of about $8.61 billion.

Hanoi commits to develop advanced e-government services Hanoi commits to develop advanced e-government services

Hanoi People's Committee held a conference on June 28 to review the implementation of a project aimed at building an e-government and smart city, and to launch new digital platforms.

High-end Hanoi hotels launch promotions High-end Hanoi hotels launch promotions

Hanoi's high-end hotels are rolling out a series of enticing offers in response to the local tourism authorities' 2024 stimulus offering, themed “Hanoi Residents and Tourists Experience Services at Hanoi 4-5 Star Hotels”.

The first Hanoi building office received WELL Precertification The first Hanoi building office received WELL Precertification

Office Tower @ Heritage West Lake, a luxury commercial development by CapitaLand Development- one of Asia’s top real estate developers, has achieved a significant milestone by becoming the first office building in Hanoi to receive the esteemed WELL Precertification.

Nearly 29.5 trillion VND worth of G-bonds raised in June Nearly 29.5 trillion VND worth of G-bonds raised in June

The Hanoi Stock Exchange (HNX) held 18 auctions of government bonds in June, raising nearly 29.5 trillion VND (over 1.15 billion USD) in June.

Hanoi keeps hastening investment attraction, disbursement Hanoi keeps hastening investment attraction, disbursement

Hanoi recorded encouraging results in investment attraction and disbursement during the first half of 2024, and is poised to push ahead with this work in the coming time.

By Mai Anh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional