An underground section of metro line No. 1 is being built (Photo: VNA)

Hanoi (VNA) – The Management Authority for Urban Railways (MAUR) of Ho Chi Minh City estimates nearly 42 trillion VND (nearly 1.85 billion USD) is needed to build phase I of metro route No. 5.

MAUR has submitted a proposal on the investment to the municipal People’s Committee.

Then, the investment proposal will be submitted to the Prime Minister and the National Assembly for consideration and approval.

Accordingly, phase I of metro route No. 5 will stretch nearly 9km from the intersection of Bay Hien, which crosses metro line No 2 in Tan Binh district, to Sai Gon Bridge in Binh Thanh district where line No. 5 will be connected with metro line No. 1.

About 7.5km of route No. 5 will go underground.

If the proposal is approved, route No. 5 will be put into operation in 2025 with six trains. The six-carriage trains are expected to travel at nearly 37km per hour on average and 90km per hour at the maximum.

Main loan providers for this project are the Spanish Government, Asian Development Bank, and German development bank KfW.

A total of eight metro lines will be built in the southern economic hub, which has been struggling with traffic jams.-VNA