Second urban metro railway project seeks US$1.43 billion additional investment
VGP - The Ha Noi Metropolitan Railway Management Board has submitted a proposal to the city People’s Committee on the adjustments of investment policy for the Ha Noi urban railway line No.2 (Nam Thang Long - Tran Hung Dao).
The Ha Noi urban railway line No.2 (Nam Thang Long - Tran Hung Dao) was designed to operate in 2015 but has yet been ground-broken - Illustration photo
Under the proposal, the board suggested the increase the investment of the section by 82% to VND 35.67 trillion (US$1.43 billion).
It also suggested that the line should have an 8-9km underground section and a 2.6km elevated section.
Total land demand for the project should be changed to 92.04 hectares instead of 49.06 hectares previously, it proposed, explaining that the demand increases due to the re-defining of the protection corridor for the elevated parts of the line, and the expansion of the boundary of the underground section on the basis of the master plan of the route and stations approved by the city People's Committee.
The board also give explanations on the rise in investment of the project, mostly from the update of construction material prices, and changes in policies and regulations related to the defining and management of investment cost.
At the same time, the completion time of the project should also be changed to 2034, the board proposed.
Earlier, the project was approved in 2008. It is designed to have 11.5km, including 8.5km underground section and 3km elevated section.
The project has initial investment of VND 19.55 trillion, with VND 16.48 trillion being loans the Japan International Cooperation Agency./.
