The expected completion of Ho Chi Minh City’s second metro line project has been delayed to 2030 from 2026, according to a decision signed by Deputy Prime Minister Tran Luu Quang.
Any problems in the project will be fixed between 2030 and 2032.
The deputy prime minister assigned the People’s Committee of Ho Chi Minh City to complete procedures to adjust the investment plan of the project and execute it in an economical and efficient manner as scheduled and in line with the law.
The metropolis must coordinate with the Ministry of Finance and sponsors to handle issues relating to loan agreements for the project and bear responsibility before the prime minister for the accuracy of data and information.
The city was also asked to remove difficulties and obstacles, complete the project by 2030, use loans effectively, and pay debts on schedule.
In case of failure to finish the project as scheduled, the city must arrange capital resources to complete unfinished items.
The second metro line project in Ho Chi Minh City, linking Ben Thanh Market in District 1 and Tham Luong Depot in District 12, was designed to stretch 11.2 kilometers, passing through six districts: 1, 3, 10, 12, Tan Binh, and Tan Phu.
It will include a 9.2-kilometer underground section and two-kilometer elevated section, with 10 stations, upon completion.
The project will require an estimated cost of over VND47.89 trillion (US$2 billion) and a total space of more than 251,100 square meters and affect 603 households.
The metro line construction commenced in 2010 and was expected to be put into commercial operation in 2016.
However, it has been executed at a snail’s pace.
The deadline for the completion of the project was delayed many times before the Ho Chi Minh City People’s Committee proposed extending it further to 2030 in July last year.
An office building and ancillary works at the Tham Luong depot in District 12 have been finished.
Only $20.13 million worth of loans and 18.52 million euros ($18.16 million) of official development assistance capital was disbursed for the project from 2010 to 2020, according to the Ministry of Finance.