Vietnamese Tiếng Việt | Saturday, March 17, 2018 | Advertise with Us
Text Size

HCM City seeks help for sluggish metro projects

(0 votes, average 0 out of 5)

HCM City authorities have asked the National Assembly and the government to help resolve capital difficulties for the city’s metro projects which have been at sluggish pace.

HCM City seeks help for sluggish metro projects, social news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, Vietnam net news, Vietnam latest news, vn news, Vietnam breaking news

A section of the Ben Thanh-Suoi Tien metro project 


The proposal made by the HCM City People’s Committee has been sent to National Assembly Chairwoman Nguyen Thi Kim Ngan and Prime Minister Nguyen Xuan Phuc to ask for increasing capital for the Ben Thanh-Suoi Tien and Ben Thanh-Tham Luong lines. 

Committee chairman Nguyen Thanh Phong said that raising the capital for Ben Thanh-Suoi Tien route is the prerequisite so that the project could be finished on schedule by late 2020.

Phong added that the long stagnancy of the project would affect the relationship between Japan and Vietnam due to the inefficient use of Japanese ODA.

Meanwhile, late payment for contractors would lead to the project suspension, slowing the project pace as well as ODA efficiency.

While waiting for the National Assembly’s consideration for the capital increase, HCM City has recommended the government instruct the Ministry of Planning and Investment to advance for the project for the payment to contractors in 2018.

For Ben Thanh-Tham Luong metro project, besides the capital increase, the city has also asked the National Assembly and the government for extending the schedule for the project completion by 2026 instead of 2024 as previously agreed.

The Ben Thanh-Suoi Tien metro project was agreed to increase capital to VND47.3 trillion (USD2.08 billion) from the initial figure of just VND17.5 trillion (USD766.4 million).

Meanwhile, the total capital of Ben Thanh-Tham Luong metro line has been raised to around VND40 trillion (USD1.81 billion) compared to an initial VND26.1 trillion (USD1.2 billion).



Source: Dtinews 

Maybe You Also Interesting :

» HCM City seeks more metro line funding

HCM City’s metro lines are facing various issues with procedures, disbursement, and cost overrun.

» Ho Chi Minh City suburbanisation spreading benefits

The real estate market in the suburban areas will pick up in 2018 as Ho Chi Minh City has nearly completed the traffic infrastructure for suburbanisation.

» HCM City to address lacklustre regulation of landed property

Landed property is one of the major segments in the Ho Chi Minh City real estate market, but its development is sporadic and uneven. The segment fares worse...

Popular News Categories:

- Asia & Asian  |  EU & Russia  |  America & US

- Facts  |  Urban  |  Faculty  |  Environment

- Business  |  Finance  |  Market Health

- Destination  |  Cuisine  |  Arts Music

- Cinema  |  Soccer  |  Sports  |  IT & Internet

Culture & Tourism:

-> About Vietnam  |  Things To Do

-> Destinations  |  Events Calendar

-> Visa Online  |  Flights & Transport

-> Accomodation  |  Tours & Cruise

-> Find more go to Travel.VN...