Hanoi proposes construction of third metro line

Hanoi City People's Committee has just proposed the construction of the third metro project connecting Hanoi Station to Hoang Mai District.

Hanoi proposes construction of third metro line

Hanoi City People's Committee has just proposed the construction of the third metro project connecting Hanoi Station to Hoang Mai District.

According to the proposal, the project is estimated to need a total investment of USD1.7 billion and will be carried out from 2021-2025.

"84.5% of the investment, or USD1.5 billion, will be sourced from ODA loans, while the city will contribute USD271 million in reciprocal capital," the committee said, adding that the Asian Development Bank has committed to finance USD 450 million for the project.

The committee also revealed that other international organisations including the German Reconstruction Bank, the Agence Française de Développement, the French government, and the World Bank have also expressed interest in providing ODA loans to the project.

The city's budget for the 2021-2025 period can provide enough reciprocal capital to carry out the project.

Debt repayments would be made from 2026 and completed in 20 to 30 years based on the terms and conditions signed with the lenders.

The proposed Hanoi Station-Hoang Mai metro line will span 8.7 kilometres including 8.13 kilometres running underground through Tran Hung Dao, Tran Thanh Tong, Kim Nguu and Nguyen Tam Trinh streets.

 

Dtinews/VOV

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