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Local giants offer to fund Hanoi metro line studies
Tuesday,  Feb 6, 2018,23:18 (GMT+7)

Local giants offer to fund Hanoi metro line studies

HCMC – Leading Vietnamese real estate conglomerates Vingroup and T&T Group will conduct pre-feasibility studies for three urban railway projects in Hanoi City if a proposal of the capital city receives approval from the central Government, news website VnEconomy reports.

The Government Office has asked the Vietnam Railways Corporation, and relevant ministries and agencies for feedback on the proposal for Vingroup and T&T to finance pre-feasibility and feasibility studies for new metro lines under the build-transfer investment format.

Many investors have expressed interest in developing the projects after a master plan for urban railways in Hanoi was made public lately. However, only Vingroup and T&T Group registered to take part, according to the municipal government.

In particular, Vingroup wants to build two metro routes – the 38.4-kilometer line No.5 linking Van Cao with Hoa Lac and the 5.9-kilometer line No.2 between Tran Hung Dao and Thuong Dinh.

Meanwhile, T&T Group is keen on metro line No.4 connecting Me Linh, Sai Dong and Lien Ha, and stretching 54 kilometers in length.

Both investors pledged they would use their own finances to study the feasibility of the projects, and hand over pre-feasibility and feasibility studies to the city government and other investors free of charge, in case they are not chosen as main investors.

If selected as investors, they would add expenses incurred for the studies into the total costs of the projects.

The municipal government stressed in case of approval, the investors would be urged to hire experienced and capable foreign consultants to make the studies as scheduled.

As the railway projects are of great national importance, they are expected to be submitted to Prime Minister Nguyen Xuan Phuc for consideration and the National Assembly for approval later this year.

According to the master plan for transport infrastructure in Hanoi City until 2030 with a vision to 2050, the city will have 10 urban railways of 417.8 kilometers in length which costs an estimated US$40.05 billion.

The 10 lines are Line No.1 (Ngoc Hoi-Yen Vien-Nhu Quynh), No.2 (Noi Bai-Thuong Dinh-Buoi), No.2A (Cat Linh-Ha Dong-Xuan Mai), No.3 (Troi-Nhon-Yen So), No.4 (Me Linh-Sai Dong-Lien Ha), No.5 (Van Cao-Hoa Lac), No.6 (Noi Bai-Ngoc Hoi), No.7 (Me Linh-Ha Dong), No.8 (Son Dong-Mai Dich-Duong Xa), and No.9 (Son Tay-Hoa Lac-Xuan Mai).

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