Construction of Hanoi Metro Rail System Project (Source: VNA)Hanoi (VNA) – The Prime Minister has approved a number of construction projects, including inter-regional transport development projects in northern mountainous provinces and a technical support project for development in several central provinces.
The project to construct the Noi Bai-Lang Son expressway section at the Huu Nghi Border Gate in the northern mountainous province of Lang Son will be implemented from 2016 to 2019, using loans from the Asian Development Bank (ADB).
Built with a total budget of 388 million USD, the project aims to reduce traffic congestion and accidents in the National Road No.1 and shorten the time for goods transportation and travelling, thus promoting Lang Son’s economic and tourism development, and investment attraction.
Regarding the loan agreement for the Hanoi Metro Rail System Project, Finance Deputy Minister Truong Chi Trung represented the Government to sign the agreement with authorised representatives of the Bank of America and Natixis Investment Bank. The Prime Minister assigned the Ministry of Finance to implement necessary procedures for re-lending with the Hanoi municipal People’s Committee.
Meanwhile, the inter-regional transport development project supporting socio-economic development in disadvantaged districts in the northern mountainous province of Yen Bai will be financed by the Saudi Fund for Development, towards promoting inter-regional connection among the provinces of Yen Bai, Lao Cai, Ha Giang and Tuyen Quang.
The project will also develop essential infrastructure works in rural and mountainous areas, thus improving livelihoods and income for locals, promoting sustainable poverty reduction.
Accordingly, as many as 41 million USD will be invested in the construction of about 52 km of inter-district transport road, along with water drainage systems and protection works in Luc Yen and Van Yen districts.
The Asian Development Bank- funded project on technical support for developing basic infrastructure works serving comprehensive development in the central provinces of Nghe An, Ha Tinh, Quang Binh and Quang Tri is scheduled to be implemented within two years with a total investment of 780,000 USD.
It aims to assist the building of project documents in accordance with the Vietnamese Government and the ADB for an investment project to develop basic infrastructure towards comprehensive development in the four localities.-VNA
