HCMC – The Hanoi City government has submitted a proposal to the prime minister requesting an 80% increase in the cost of a section of its long-stalled Metro Line No. 2 project.
The new investment estimate of the 11.5-kilometer Nam Thang Long-Tran Hung Dao section, if approved, will surpass VND35 trillion, rising by VND16 trillion compared to the original cost of VND19.6 trillion approved in 2008.
This higher cost is attributed to factors such as changes in the project’s scope, exchange rate volatility, and higher prices of fuel, construction materials, and equipment.
The project will receive over VND29.6 trillion in official development assistance (ODA) from the Japanese government, with the rest coming from the city’s budget.
Hanoi aims to complete this metro line section by 2031.
In November 2008, the city government approved the feasibility study for the Nam Thang Long-Tran Hung Dao metro line, the first part of Hanoi’s Metro Line No. 2.
At the time, the anticipated completion date for this project was set for 2015.
