Intellasia News Services -- German investor proposed to be general contractor for metro 2 project

German investor proposed to be general contractor for metro 2 project
Source: 10/Mar/2010 Intellasia | 09/Mar/2010 CafeF | Thoi Bao Kinh Te Saigon
10 Mar, 2010 - 11:33:58 AM
Chair of HCM City’s People’s Committee, Le Hoang Quan, in the meeting with German minister for Economic Cooperation and Development, Dirk Niebel on March 9, urged German investors to be general contractors for metro route No 2 project.

Quan also hoped that finance providers such as German Development Bank (KfW), Asian Development Bank (ADB) and European Investment Bank (EIB) will consider this suggestion.

As planned, till 2020, the city will have seven urban railway projects with total length of 107 kilometres and total investment of over US$6 billion.

In February 2008, the city started construction on a depot for Ben Thanh market-Suoi Tien metro project in Dist 9.

Metro Line No 1 has total length of 19.7 kilometres (starting from roundabout area in front of Ben Thanh market and ending at Suoi Tien bus station), passing district 1, 2, 9, Thu Duc and a part of Binh Duong province. There are 14 stations in Metro line No 1 including 10 elevated stations and4underground stations. The project is implemented using ODA loan of Jica and local reciprocal capital, in which ODA loan accounts 83% investment capital.