Hanoi proposes investing 2.81 billion USD in new urban metro line
The People’s Committee of Hanoi has asked the Government to give a final decision on the project for building urban metro line No. 5 from Van Cao Road to Hoa Lac Road so the project can be submitted to the National Assembly for approval by the end of this year.
The train design for Hanoi's metro line No3 connecting between Hanoi Railway Station to Hoang Mai district and line No 5 from Van Cao to Hoa Lạc. (Photo: nhandan)Hanoi (VNA) – The People’s Committee of Hanoi has asked the Government to give a final decision on the project for building urban metro line No. 5 from Van Cao Road to Hoa Lac Road so the project can be submitted to the National Assembly for approval by the end of this year.
The new metro line is among the two key metro projects of the capital city. It has the total estimated funding of over 65.4 trillion VND (around 2.81 billion USD).
The total route is more than 38km, with a 6.5km underground section and 2km of elevated track. It will have 21 stations, with six underground. The project is scheduled to start in 2022 and be completed in 2026.
The project aims to reduce urban traffic density and improve travel conditions for passengers from the suburbs to the city centre.
The city has proposed getting the funding from the city budget and running the project in the PDP (project delivery partner) mode instead of the BT (build-transfer) investment model as previously.
To implement the project soon, the municipal People’s Committee has proposed Prime Minister Nguyen Xuan Phuc establish a State appraisal council to conduct the pre-feasibility study report for the project before submitting it to the National Assembly for approval by the end of this year.
The urban metro line No. 5 will pass through seven districts, including Ba Dinh, Dong Da, Cau Giay, Nam Tu Liem, Hoai Duc, Quoc Oai and Thach That.
Out of the total investment, 24.84 trillion VNDwill be spent for the infrastructure construction and 16.63 trillion VND for the equipment.
Hanoi plans to operate 25-40 trains on the line./.
You should also see
Hmong ethnic people preserving traditional blacksmithing
Long Hay, in Muong Phang, Dien Bien Phu city, Dien Bien province, is a village inhabited by Hmong ethnic people. Some local families have continued the traditional craft of forging agricultural tools.
See more
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Business
Dak Lak firm pioneers in following EUDR in coffee production
The Dak Lak September 2 Import-Export Company Limited (Simexco) has pioneered in building coffee growing areas following the EU Deforestation Regulation (EUDR), it announced on April 25.
Business
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
Business
Dong Nai calls for Korean investment into green growth
The southern province Dong Nai introduced its investment projects and incentives to the Republic of Korea (RoK)’s firms at a workshop in Seoul on April 25.
Business
Vietnam ranks fifth among aquatic product suppliers for Singapore
Vietnam jumped one place to become the fifth largest exporter of aquatic products to Singapore for the first time in the first quarter of this year, according to its Trade Office in the city state.
