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S.Korea becomes 4th country to invest in Ho Chi Minh City metro system

S.Korea becomes 4th country to invest in Ho Chi Minh City metro system

Friday, March 18, 2016, 12:24 GMT+7

The South Korean government recently launched studies on the construction of metro lines in Ho Chi Minh City.

According to the city’s Management Authority for Urban Railways, the South Korean government has poured US$5 million into Ho Chi Minh City via the Korea International Cooperation Agency to sponsor a feasibility study for the second stage of the fifth metro line, which runs 14.5km from Bay Hien Intersection in Tan Binh District to Can Giuoc Bus Terminal in Binh Chanh District.

In February 2016, a study was also conducted by Korean Eximbank consultancy to assess the feasibility of the metro line that extends over 2km from Lang Cha Ca Roundabout to Tan Son Nhat International Airport, after the South Korean government agreed to a $1 million sponsorship for the study.

With these moves, South Korea has become the fourth country to join hands in the metro system project of Ho Chi Minh City, following Japan, Germany, and Spain.

Earlier, Japan provided Vietnam with official development assistance (ODA) for the building of a metro line running 19.7km between Ben Thanh in District 1 and Suoi Tien in District 9, which began in 2012 and is expected to be completed by 2018.

Germany came in second, providing ODA for the first stage of the second line connecting Ben Thanh and Tham Luong in District 12, the construction of which is scheduled to begin in 2017.

The first stage of Ho Chi Minh City’s fifth metro line was financed by ODA from the Spanish government and will run from Bay Hien Intersection to the Saigon Bridge in Binh Thanh District.

The plan for this metro line will be presented to the National Assembly for approval in the coming months.

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