Metro Line 2 ‘large-scale’ next year

Nguyen Van Binh (R), governor of the State Bank of Vietnam, shakes hands with Tomoyuki Kimura, ADB country director for Vietnam, at the loan agreement signing ceremony in HCMC on Thursday - Photo: Anh Quan

The loan agreement was signed on Thursday in HCMC and is the second loan given by the ADB which will be used in construction of the underground components of the metro line.

The first loan of US$40 million was signed in Hanoi.

Tomoyuki Kimura, ADB country director for Vietnam, pledged that ADB would assist Vietnam in developing infrastructure to ensure sustainable growth.

Nguyen Van Quoc, deputy director of the HCMC Management Authority for Urban Railways (MAUR), said the credit would be disbursed according to the project’s progress.

MAUR is in preparation for an open bidding. Once the contractor is found, a survey and construction scheme will be made. Large-scale construction is slated for 2014, he told the Daily.

So far, only fence and guard booths have been set up at Tham Luong Depot in District 12. A metro station and a maintenance station will be constructed in line with the underground section.

The city has set aside land at Saigon Locomotive Factory and Saigon Wagon Factory for resettlement of the households forced to move to make room for the metro project.

Underground stations and two tunnels will be built underneath the streets of Truong Chinh, Cach Mang Thang Tam, Pham Hong Thai and Ham Nghi to reduce the need for land clearance.

Metro Line No. 2, stretching nearly 20 kilometers, connects Thu Thiem New Urban Area in District 2 and Tay Ninh Coach Station. During the first phase, the city will develop the 11-km section running from Ben Thanh Market in downtown HCMC to Tham Luong Depot in District 12, including a 9.3-km underground part.

The project requires a total of US$1.37 billion, in which the ADB will finance a combined US$540 million, the German development bank KfW US$313 million and the European Investment Bank (EIB) US$195 million. The remainder will be sourced from Vietnam’s budget.