|Plans for phase 1 of the project, to cost 1.56 billion euros (US$1.73 billion. — Illustrative image/ File Photo
HCM CITY (VNS) — The HCM City administration wants the Government to seek approval from the National Assembly for Metro Line No 5 linking Bay Hien Intersection in Tan Binh District with Sai Gon Bridge in Binh Thanh District.
Plans for phase 1 of the project, to cost 1.56 billion euros (US$1.73 billion), has been submitted to the People's Committee, according to the HCM City Management Authority for Urban Railway (MAUR).
MAUR said funding for the line had been arranged with loans of 475 million euros ($527 million) from the Asian Development Bank, 275 million euros ($305 million) from the Spanish Government, 200 million euros ($222 million) from the German Bank for Reconstruction – KfW, and 150 million euros ($166.5 million) from the European Investment Bank and counter capital of 463 million euros ($513 million) from local sources.
Preparations for the 8.9km first phase have been accelerated so that construction can start in 2017.
Metro Line No 5 was scheduled to be completed in 2023, Tuoi Tre (Youth) newspaper quoted MAUR as saying.
It is designed to be 23.4 km long in all, running from Sai Gon Bridge to Can Giuoc Bus Station in Binh Chanh District.
It is the third line in the city to tie up funding after Line No 1 between Ben Thanh Market in District 1 with Suoi Tien Tourism Park in District 9 and Line No 2 from Ben Thanh Market to Tham Luong Bus Station in District 12.
The four others planned are Line No 3A from Ben Thanh to Tan Kien in Binh Chanh District and No 3B from Cong Hoa Intersection in District 3 to Hiep Binh Phuoc in Thu Duc District; No 4 from Nguyen Van Linh Avenue in District 7 to Ben Cat Bridge in District 12; and No 6 from Ba Queo intersection in Tan Binh District to Phu Lam Roundabout in District 6.
Preparations are underway for all of them. — VNS