return icon

Consulting and supervision costs at Cat Linh-Hadong metro line soars by $7.8 million

Delayed progress has increased costs at Cat Linh-Hadong metro line, according to the Ministry of Transport's report.


Chậm tiến độ tư vấn giám sát, đường sắt Cát Linh Hà Đông tăng 7,8 triệu USD

Cat Linh-Hadong metro line.


In a document sent to the Ministry of Finance in early September, the Ministry of Transport (MoT) said that because the engineering, procurement, and construction (EPC) contract of the Cat Linh-Hadong metro line project could not be completed on schedule, the construction time had to be extended, which increased the cost of the supervision and consulting contract by about $7.8 million.

However, this cannot be covered from reciprocal capital from Vietnam, while the additional loan agreement of China is about $26.4 million. Therefore, in April, the MoT requested Export-Import Bank of China (China Eximbank) to consider and approve financing the increased cost of the supervision and consultancy contract from the additional loan agreement.

However, at the end of August, China Eximbank refused including the additional costs in the loan.

Funded by Chinese official development aid (ODA), the total initial investment was VND8.77 trillion ($381.3 million), which was then adjusted to VND18 trillion ($782.6 million), including VND13.867 trillion ($602.9 million) from Chinese ODA and VND4.134 trillion ($179.74 million) of reciprocal capital from Vietnam. The EPC general contractor is China Railway Sixth Group Co., Ltd. and the construction supervision consultant is Beijing National Railway Research & Design Institute.

Running from Cat Linh in Ba Dinh district to Hadong district, the project has an elevated line of more than 13km with 12 stations and 13 trains. Travelling at a designed speed of 80 km/h, each train will have four carriages capable of carrying over 900 passengers.

The trial run was completed in December 2020 with more than 70,000km covered through thousands of trips, enabling the system to operate commercially.

On April 29, the French consultant issued a system safety certificate for the Cat Linh-Hadong metro line. Immediately after that, the MoT supplemented the dossier and sent a report to the state inspection council. So far, the State Inspection Council has yet to make a final decision, so the metro line cannot be put into commercial use.

Source: VIR



Vietnamese and the ‘becoming old before getting rich’ fear

The long queues of people waiting for their turn to get lump sum benefits at social insurance agencies since 2021 reflects the situation of many laborers two years after the pandemic outbreak.

Development pace picking up in energy

Wealthy foreign investors in energy are expanding their long-term strategies in Vietnam while many ongoing projects that missed the feed-in tariff deadline are struggling to find a revenue balance.

Van Phong EZ to become high-end tourism-entertainment center

Van Phong Economic Zone (EZ) in the central province of Khanh Hoa will be developed into a high-end tourism and entertainment service center and be internationally competitive.

Landslides in Mekong Delta increasingly serious

Landslides in many localities in the Mekong Delta have been increasingly serious in recent years, occuring all year round.

Kinks to iron out to prepare for British involvement in trans-pacific agreement

The United Kingdom’s efforts to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership are being seconded by Vietnam, but various issues persist involving other members.

Vietnam's seafood exports hardest hit amid reduced global demand

While Vietnam’s export of several key agro-forestry-aquatic products endured a sharp drop of 14.40 percent on-year in the first quarter of 2023, seafood exports were hardest hit with the on-year fall of 29 percent.

VN must clearly determine pharmaceutical sector’s goals for the future

The pharmaceutical sector plays an important role in healthcare, meaning development goals must be established.

1.8 mln mobile subscribers with incorrect personal information to be locked

Mobile service providers will block incoming calls for about 1.8 million subscribers with personal information failing to match the national population database beginning on April 1.

British national museum, library introduce items on Vietnam

Speakers from the British Museum and Library have introduced documents on Vietnam’s culture and its long-standing ties with the UK, at a discovering-Vietnam event held at the D-Contemporary in central London.

Vietnam objects to Taiwan’s live-fire drills in Ba Binh

Vietnam resolutely opposes to and demands Taiwan (China) to cancel live-fire drills in the waters around Ba Binh (Itu Aba) belonging to Vietnam’s Truong Sa (Spratly), vice spokesperson of the Vietnamese Ministry of Foreign Affairs Pham Thu Hang said.

Renewable power developed at lightning speed but has slowed down

In 2017-2021, Vietnam saw a boom in solar and wind power development. After 2021, development, however,  slowed down as the pricing policy remained unclear.

Mortgaged assets of enterprise whose owners fled the country are up for sale

Agribank’s Bac Hai Phong Branch has announced the auction of assets used as collateral for a loan provided to Kai Yang Vietnam Co Ltd.

VN-China's Taiwan coordinate in verifying identity of victims drifting at sea

After receiving information from Taiwanese authorities on the case, the Foreign Ministry directed the Taipei office to urgently work with Taiwanese authorities on the matter.

Over 3,200 phishing pages detected in Q1

Phishing attacks have been on the rise in the first months of the year. Chong lua dao, a not-for-profit cybersecurity project, reported that it has discovered 3,271 websites scamming Vietnamese users over the last three months.


SBV's draft regulations encourage banks to support corporate bond market