Government wants more funds for metro rail project

Thursday, Jan 08, 2015 16:25

A view of Ha Noi Train station - Nhon urban rail project. The construction of the project is expected to be complete in the fourth quarter of 2018. — Photo

HA NOI (Biz Hub) — The government plans to borrow an additional US$53.2 million from the Official Development Assistance (ODA) fund for the Ha Noi Train Station–Nhon urban metro rail project.

The funds are proposed to be used specifically for constructing 12 stations and bus stations of the rail project, according to a report by news website on January 7.

The Prime Minister has sent a statement to the President, proposing to authorise the Governor of the State Bank of Viet Nam to sign two ODA loan agreements with the Asian Development Bank and the Clean Technology Fund.

The project, or metro line 3, was granted an additional EUR393 million ($483 million) in December last year, increasing its investment capital to EUR1,176 million ($1,393 million).

Metro line 3 will begin at Nhon and reach Cau Giay via National Highway 32, and Ho Tung Mau and Xuan Thuy streets. It will also pass through Kim Ma, Nui Truc and Quoc Tu Giam streets. The last stop will be the Hanoi Train Station at the T-junction of Le Duan and Tran Hung Dao Street.

The Ha Noi department of transportation is responsible for the implementation of the project. The 12.5km metro line will include 8.5km of elevated and 4km of underground sections. The trains will run at a top speed of 80km per hour, and transport 900 passengers during a 20-minute single trip.

The construction of metro line 3 is expected to be complete in the fourth quarter of 2018.

The project is part of a Viet Nam ministry of transport master plan for urban transport development in Ha Noi, and will provide commuters a safe, efficient and clean transportation system. — VNS

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