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Vietnam to spend 4.4 bln USD to build 5th metro line in HCM City

Xinhua, October 28, 2015 Adjust font size:

Vietnam will spend 99,764 billion Vietnamese dong (over 4.4 billion U.S. dollars) building the metro line No. 5 in Ho Chi Minh City, the municipal authorities said Wednesday.

The 24-km metro line No.5 will stretch from the new Can Giuoc bus station to Saigon bridge, according to the management board for the city's urban railways.

Under the the project's first stage, nearly 1.9 billion U.S. dollars will be poured into building the metro's section running between Bay Hien intersection and Saigon bridge. Donors have pledged to provide the amount of money.

The project's second stage will build the metro's section from the intersection to the station with investment of over 2.5 billion U.S. dollars. The South Korean government is considering providing Vietnam with a technical assistance grant to make its pre-feasibility and feasibility studies.

Work on the line's first stage will not start until the project is approved by legislators, the management board told reporters recently. Under Vietnam's law on public investment, any project which costs the state budget over 10 trillion Vietnamese dong (more than 444 million U.S. dollars) must get approval from the country's top legislative body.

Ho Chi Minh City is building the first two of its six metro lines, both expected to become operational in 2020. Enditem