The Asian Development Bank (ADB) and the European Investment Bank (EIB) will provide 200 million EUR (260 million USD) for Ho Chi Minh City to build its fifth metro line.

To this effect, a memorandum of understanding (MoU) was signed between Vice Chairman of the municipal People’s Committee Nguyen Huu Tin and representatives from the two banks in the city on March 13.

The 17km route will link the Sai Gon Bridge and the new Can Giuoc bus station. A depot that serves engine maintenance will be built on an area of 25 ha.

In the first phase of the project, an 8.8 km section from Bay Hien crossroads in Tan Binh district to Saigon Bridge in Binh Thanh district will be constructed at a cost of more than 857 million USD.

Once completed, the new metro is expected to handle about 526.000 passengers everyday, according to the HCM City Management Authority for Urban Railway.-VNA