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Thursday, June 13, 2024

HCMC needs VND210 trillion to build six more metro lines

The Saigon Times

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HCMC – The HCMC Transport Department has sent a report to the municipal government on completing the urban railway system following the Transit Oriented Development (TOD) model.

As part of the department’s plan, the urban railway system in HCMC will comprise eight axis routes connecting the city’s downtown area. With a vision to 2035, the department proposed constructing six more metro lines with a total estimated cost of around VND210.76 trillion.

Currently, two metro lines — Ben Thanh-Suoi Tien and Ben Thanh-Tham Luong — are under construction in the city, with a total respective investment of VND43,700 billion and VND47,900 billion.

While the Ben Thanh-Suoi Tien Metro Line is 92.39% complete, the Ben Thanh-Tham Luong Metro Line has completed 85.49% of site clearance.

Besides, HCMC will develop more underground metro lines and monorail systems.

According to the department, the construction of the urban railways is reliant on official development assistance (ODA) loans, which are dwindling as Vietnam is now a middle-income country.

Given the situation, the department proposed that the HCMC government ask the Planning and Investment Department to join hands with relevant agencies to map out a plan to mobilize capital for the six metro lines and utilize land around the stations to finance the projects.

The Planning and Architecture Department needs to study urban planning and development in accordance with the TOD model, according to the report.

The total length of the urban railway system is estimated at 220 kilometers, with a total investment of nearly US$25 billion.

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