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HCM City Metro wins investment

Update: September, 16/2013 - 08:40
Foreign donors have agreed to contribute 857 million euros (US$1,137 million) for the first stage of the project to build a 8.9-km section of Metro Line No 5 linking Sai Gon Bridge in Binh Thanh District to Bay Hien Intersection in Tan Binh District.—File Photo

HCM CITY (VNS)— Foreign donors have agreed to contribute 857 million euros (US$1,137 million) for the first stage of the project to build a 8.9-km section of Metro Line No 5 linking Sai Gon Bridge in Binh Thanh District to Bay Hien Intersection in Tan Binh District.

The HCM City Management Authority for Urban Railways (MAUR) said ADB will finance US$500 million, EIB 150 million euros, and the Spainish Government 200 million euros. The remaining will be financed by the Vietnamese Government's counter capital.

This is the third metro route in HCM City. The other two are Metro Line No 1 running from Ben Thanh Market in District 1 to Suoi Tien Tourist Park in Thu Duc District and Metro Line No 2 which links Thu Thiem New Urban Area in District 2 to An Suong Bus Station in District 12.

Construction of Metro Line No 5 is scheduled to start in 2015 to link the Metro Line No 1 (construction of which began in 2012) and Metro No 2 (construction to start next year).

According to the HCM City Urban Railway Management Board, after completion, Metro Routes No.1, 2 and 5 will each carry about 526,000 passengers a day. —VNS

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