Most of the €857 million in capital needed for the first phase of the No.5 metro line in Ho Chi Minh City will be provided by the Asia Development Bank (ADB), the European Investment Bank (EIB) and the Spanish Government.
>> HCMC calls for boost to first metro project
Accordingly, the ADB will contribute US$500 million, while the EIB and Spain’s Government will provide funds of €150 million and €200 million, respectively, said the HCMC Urban Railway Management Board.
The remaining capital amount will be covered by domestic sources, the Board added.
Metro line No. 5 is designed to be 23.4 km long, running from the Saigon Bridge in Binh Thanh District to the Can Giuoc Coach Station in Binh Chanh District.
The first phase of the project will cover a section of 8.9 km running between the bridge and the Bay Hien Intersection in Tan Binh District.
Construction of the first phase is expected to begin in 2015.
This is the third metro project in the city that has obtained enough capital to start its first phase. The other two projects are the Ben Thanh-Suoi Tien metro line (metro No. 1) that will link District 1 and District 9, and the Ben Thanh-Tham Luong metro line (metro No. 2), which will connect District 1 and District 12.
The other four metro projects in the city include No. 3A: Ben Thanh (District 1) – Tan Kien (Binh Chanh District), No. 3B: Cong Hoa Intersection (District 3) – Hiep Binh Phuoc (Thu Duc District), No. 4: Nguyen Van Linh Avenue (District 7) – Ben Cat Bridge (District 12), and No. 6: Ba Queo (Tan Binh District) – Phu Lam Roundabout (District 6).
All of these projects are in the preparation stage.