HCMC – The government of HCMC has proposed a plan to develop six metro lines by 2035, with a total projected budget of VND870 trillion, reported local media.
On July 15, the HCMC People’s Committee presented a proposal to develop an urban railway network in line with the Politburo’s Conclusion No. 49, which outlines a strategy for Vietnam’s railway transport development up to 2030, with a vision extending to 2045.
If approved, the plan will be sent to the central Government before it is forwarded to the National Assembly for approval in late 2024 or early 2025.
The plan envisions building six new urban railways with a combined length of 183 kilometers by 2035. By 2045, an additional 168 kilometers of urban railways will be constructed, bringing the total length to approximately 351 kilometers. By 2060, HCMC is projected to have 10 metro lines with a total length of 510 kilometers.
The estimated initial capital required for the construction and initial operation of the six metro lines until 2035 is over VND871 trillion, equivalent to US$36.33 billion.
The investment capital for these projects will be sourced from the State budget and other avenues, including surplus budget revenue, income from urban development under the Transit-Oriented Development (TOD) model, bond issuance, public investment, and other sources.
