An elevated section of HCM City’s Ben Thanh – Suoi Tien metro line runs along Hanoi Highway (Photo: VNA)HCM City (VNA) – Investmentfor Ho Chi Minh City’s first metro line between Ben Thanh Market in district 1and Suoi Tien Theme Park in district 9 will be reduced by 3.4 trillion VND (147million USD).
The decision was recently made by the municipalPeople’s Committee after a review of all of the project’s related costs.
It will be submitted to the municipal People’sCouncil before its issuance of a resolution on allocating reciprocal capitalfrom the city budget at the year-end meeting.
HCM City previously proposed an adjustedtotal investment of 47.3 trillion VND (2.05 billion USD) and nearly 48 trillionVND (2.07 billion USD) for metro lines No 1 and No 2, respectively.
Vice Chairman of the municipal People’sCommittee Vo Van Hoan said although the total investment of the first metroline has been cut significantly, it will not affect the project’s quality.Seventy-five per cent of the total workload has been completed, he added.
Usually, after the municipal People’sCommittee signs a decision to adjust the capital of the two metro lineprojects, the central government will disburse the money. But the proceduresfor money transfer and payment take time, so the city is expected to receivethe money in March or April next year, Hoan said.
The city has advanced a 1.7 trillion VNDpayment to investors, construction units and labourers so that work on theproject can continue.
Metro line No 1 was approved by the city inApril 2007 with an investment of 17.4 trillion VND (766.4 million USD). Afterinvestment costs were re-calculated by consulting agencies, costs increased tomore than 47.3 trillion USD in 2010.
Meanwhile, metro line No 2 connecting BenThanh and Tham Luong in district 12 is now scheduled to open in 2026, atwo-year delay from its 2024 goal./.
The decision was recently made by the municipalPeople’s Committee after a review of all of the project’s related costs.
It will be submitted to the municipal People’sCouncil before its issuance of a resolution on allocating reciprocal capitalfrom the city budget at the year-end meeting.
HCM City previously proposed an adjustedtotal investment of 47.3 trillion VND (2.05 billion USD) and nearly 48 trillionVND (2.07 billion USD) for metro lines No 1 and No 2, respectively.
Vice Chairman of the municipal People’sCommittee Vo Van Hoan said although the total investment of the first metroline has been cut significantly, it will not affect the project’s quality.Seventy-five per cent of the total workload has been completed, he added.
Usually, after the municipal People’sCommittee signs a decision to adjust the capital of the two metro lineprojects, the central government will disburse the money. But the proceduresfor money transfer and payment take time, so the city is expected to receivethe money in March or April next year, Hoan said.
The city has advanced a 1.7 trillion VNDpayment to investors, construction units and labourers so that work on theproject can continue.
Metro line No 1 was approved by the city inApril 2007 with an investment of 17.4 trillion VND (766.4 million USD). Afterinvestment costs were re-calculated by consulting agencies, costs increased tomore than 47.3 trillion USD in 2010.
Meanwhile, metro line No 2 connecting BenThanh and Tham Luong in district 12 is now scheduled to open in 2026, atwo-year delay from its 2024 goal./.
VNA
