Metro Line No.1 to be complete by 2020

17-Jan-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

HCM City is striving to speed up work on the Metro Line No. 1 project so that it can be put into operation by 2020 as planned, Sai Gon Giai Phong news site reported, citing city vice chair Tran Vinh Tuyen. Capital disbursement delays have stoked concerns that the urban railway could fall behind schedule.

As the project faces complicated legal procedures concerning the upward adjustment of investment, the Ministry of Planning and Investment has refused to allocate capital for the project, which has in turn prevented Japan from further disbursing its loan for the project.

As such, the city has made an advance payment of VND3.2 trillion for the Metro Line No. 1 project. To ensure payments for contractors and to smooth construction work, the HCM City Management Authority for Urban Railways (MAUR) proposed the municipal government approve the plan to continue providing advances from the city’s budget.

Speaking at a meeting on January 14 with MAUR and the relevant agencies, Tuyen said that the project had been approved for upward investment cost adjustment in principle by central authorities. The city will create favourable conditions for contractors to speed up construction.

Addressing the meeting, Bui Xuan Cuong, new head of MAUR, said that the relevant units will rapidly execute the project after the Tet holiday, attempting to finalise the project by 2020.

Regarding Metro Line No. 2 linking Ben Thanh Market and Tham Luong Depot in District 12, Tuyen asked the authorities of the city’s districts to expedite land clearance compensation and resettlement for residents affected by the project and to prepare for bidding procedures to fast-track the line while waiting for the competent agencies to complete procedures for the investment capital increase.


Category: Business, Vietnam

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