Hanoi proposes PM to speed up apprisal of $1.75 billion Metro Line No.3
Hanoi People’s Committee has requested approval to appraise the pre-feasibility report of Metro Line No.3. The construction is expected to start by 2021.
Hanoi is trying to stay on schedule by urging progress for Metro Line No.3
The chairman requested the prime minister to assign the Ministry of Planning and Investment and the Ministry of Finance to submit a plan on using ODA capital and incentive loans from overseas to develop the project. The ODA loans are expected to come from the ADB, French Development Agency (AFD), and Germany's KfW Development Bank. As of July 2019, ADB pledged ODA loans worth $450 million for the project.
In addition, the two ministries were asked to report on the plan to establish the state evaluation council that will appraise the pre-feasibility report, according to the Law on Public Investment. Then, the report will be submitted to the National Assembly along with other relevant documents to approve the project's investment planning in late 2020.
Furthermore, in order to ensure the schedule to sign and negotiate ODA capital for the project right after the investment planning is approved, Hanoi People’s Committee requested the prime minister to assign the Ministry of Finance to cooperate with cities, other ministries, and relevant authorities to negotiate with sponsors.
Metro Line No. 3 will be 8.7km long, a little more than 8.13 km of which will run underground, with the rest being an open tunnel section leading to the depot area.
According to the proposed plan, the metro line will include dual underground tunnels connecting Tran Hung Dao – Tran Thanh Tong – Kim Nguu – Tam Trinh and a 10-hectare depot area located near Yen So pumping station.
According to the plan, the metro line will be able to handle 124,000 passengers a day by 2030 and the figure will increase to295,000 passengers per day by 2040. VIR
Vietnam's transport ministry sees the obstacles encountered by the Chinese contractor but the payment is unjustifiable.
HCM City plans to stop construction of high-rise apartment buildings in downtown areas and focus instead on building such residential complexes along the first metro route in the eastern part of the city comprising districts 2, 9 and Thu Duc.