An image of the Ha Noi Train station - Nhon urban metrol rail project. It's expected to help reduce traffic jam in the capital city. — Photo VTC News

HA NOI (Biz Hub) — The Prime Minister has agreed to give an additional EUR393 million (US$483 million) for the Ha Noi Train Station – Nhon urban metro rail project.

The capital will come from the Official Development Assistance (ODA), with the counterpart fund of EUR88.01 million ($108.15 million).

The Prime Minister has asked the ministries of planning and investment and finance and the State Bank of Viet Nam to negotiate with the donors about the loan for the project.

Earlier, the project had a total investment capital of EUR783 million ($962.37 million), of which EUR653 million was from the ODA and the remainder was the counterpart fund.

The 12.5km route of the metro rail will include 8.5km of aerial track connecting the Nhon depot with Thu Le, and a 4km-long underground track connecting Thu Le with Hanoi Train Station.

The line will start at Nhon and reach Cau Giay via National Highway 32, 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 Metropolitan Rail Transport Project Board will oversee the project, which will include a viaduct, power supply stations and a depot.

Expected to become operational in 2015, the line will carry 150,000 passengers per day, to increase to 500,000 passengers by 2030.

The metro rail project is part of a Viet Nam Ministry of Transport master plan that aims to reduce the use of private transport to improve the urban environment. — VNS