Nearly 48,000 billion VND of budget capital is expected to build metro line 2 in Ho Chi Minh City

TPO - Ho Chi Minh City has decided to use its budget to build metro line 2, Ben Thanh - Tham Luong, instead of the previous plan to use ODA loans.

TPO - Ho Chi Minh City has decided to use its budget to build metro line 2, Ben Thanh - Tham Luong, instead of the previous plan to use ODA loans.

The total investment of the HCMC Metro Line 2 project is estimated at nearly VND48,000 billion. The project is over 11 km long (of which the underground section is over 9 km long; the elevated section is nearly 2 km long) with 10 stations (9 underground stations, 1 elevated station) passing through districts 1, 3, 10, 12, Tan Binh and Tan Phu.

Recently, the Party Committee of the Ho Chi Minh City People's Committee has just announced the conclusion on the implementation plan of this project. In particular, the most notable content is that the Party Committee of the Ho Chi Minh City People's Committee agreed to use the city's budget to continue implementing the metro line 2 project; at the same time, adding the synchronous connection works of metro line 1 and metro line 2 at Ben Thanh station area to the metro line 2 project.

Currently, the Ho Chi Minh City Urban Railway Management Board is urgently relocating technical infrastructure to prepare a "clean site" for the metro line 2 project. Photo: Duy Anh.

The Party Committee of the Ho Chi Minh City People's Committee assigned the Ho Chi Minh City People's Committee to direct the Urban Railway Project Management Board to preside over and coordinate with the Department of Finance, Department of Transport, Department of Planning and Investment, Department of Construction and related units to urgently complete the implementation plan for metro line 2.

Relevant units and departments need to have a comprehensive impact assessment report on arising legal, financial and diplomatic issues; study and supplement the EPC mechanism (contract for design, supply of technological equipment and construction of works) into the Urban Railway Development Project according to Conclusion 49 of the Politburo.

In addition, research agencies, supplement policies to complete the implementation plan of metro line 2 project to ensure the proposed plan, report to the City People's Committee to submit to the Party Committee of the City People's Committee before November 28.

The Ho Chi Minh City State Financial Investment Company is assigned to preside over and coordinate with the Department of Finance and related units to study appropriate capital mobilization plans; thereby, submit them to the City People's Committee before November 30.

Currently, the Ho Chi Minh City Urban Railway Management Board is relocating technical infrastructure on the entire metro line No. 1 and the project is expected to start construction in 2025.

According to the original plan, the HCMC Metro Line 2 project would be invested with ODA loans from the Asian Development Bank (ADB), the German Reconstruction Bank (KfW), the European Investment Bank (EIB) and counterpart funds from the budget. ODA loans account for the majority, with nearly VND37,500 billion. However, a recent report from the HCMC Urban Railway Management Board shows that arranging finance for this project is facing many difficulties due to changes in loan conditions from international donors.

Huynh

Source: https://tienphong.vn/du-kien-gan-48000-ty-von-ngan-sach-lam-metro-so-2-tphcm-post1694795.tpo