Deputy Prime Minister Hoang Trung Hai launched the construction of HoChi Minh City’s Metro line No.2 on August 24, which will eventually linkBen Thanh market in the city centre and Tham Luong in district 12.
Hai highlighted the important role the projectplays in the city’s socio-economic development as it is the nation’smost populous city and constantly plagued by traffic jams.
He called on all executive agencies to focus on the quality of the project whilst still keeping on schedule.
Nguyen Do Luong, the Head of the Urban Rail Management Board, saidthat the 20 km long Metro line will use European technology. In thefirst phase, from now to 2016, almost 11.5 km of tunnel will be dug at adepth of 18 m and include 11 stations.
The costof almost 23.7 trillion VND (over 1.2 billion USD) will come largelyfrom international official development assistance (ODA) provided by theAsian Development Bank, the German Reconstruction Bank (KfW) and theEuropean Investment Bank. Vietnam committs almost 3.8 trillionVND (roughly 198.9 million USD) to the project.
The project will have additional investment supplied by the Clean Technology Fund.
German Ambassador Rolf Schulze and ADB Country Director Ayumi Konishiboth pledged to work closely with domestic agencies to speed up thepreparatory steps for signing the credit and consultancy contracts./.
Hai highlighted the important role the projectplays in the city’s socio-economic development as it is the nation’smost populous city and constantly plagued by traffic jams.
He called on all executive agencies to focus on the quality of the project whilst still keeping on schedule.
Nguyen Do Luong, the Head of the Urban Rail Management Board, saidthat the 20 km long Metro line will use European technology. In thefirst phase, from now to 2016, almost 11.5 km of tunnel will be dug at adepth of 18 m and include 11 stations.
The costof almost 23.7 trillion VND (over 1.2 billion USD) will come largelyfrom international official development assistance (ODA) provided by theAsian Development Bank, the German Reconstruction Bank (KfW) and theEuropean Investment Bank. Vietnam committs almost 3.8 trillionVND (roughly 198.9 million USD) to the project.
The project will have additional investment supplied by the Clean Technology Fund.
German Ambassador Rolf Schulze and ADB Country Director Ayumi Konishiboth pledged to work closely with domestic agencies to speed up thepreparatory steps for signing the credit and consultancy contracts./.
