Urban Railway Line No.1 project to have new investor

15-Oct-2019 Intellasia | DtiNews | 6:02 AM Print This Post

The Ministry of Transport has proposed to the government to transfer the urban Railway Line No.1 project to the Hanoi People’s Committee.

According to the proposal, the ministry will only invest in the national railway section in Ngoc Hoi Station, while the Hanoi People’s Committee will take over the investment of remaining works.

The plan for the urban Railway Line No.1 project was approved by the government in 2004 with total length of 28.7 kilometres and total investment capital of VND9.2 trillion (USD400 million). The project was scheduled to be carried out from 2007-2017.

Railway Line No.1 is considered to be the most important of the urban railway network in the capital city because it will not only link other urban railway lines (No.2, 3, 6) but also to the national railway and high-speed rail in the future.

Although construction of the project has not started yet, its estimated investment capital has amounted to over VND81 trillion.

Explaining about the sharp rise in investment capital, the ministry said that planning adjustment with additional works, rising construction prices, rising exchange rate between the Vietnamese Dong and the Japanese Yen were among the reasons.



Category: Business, Vietnam

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