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Vietinbank to arrange funds for Ha Noi first metro line

Update: February, 27/2012 - 16:47

HA NOI – State Bank of Viet Nam (SBV) has assigned the Bank for Industry and Trade (Vietinbank) to arrange funds for the Ha Noi Train Station – Nhon urban metro rail project.

According to SBV, Vietinbank will arrange a to total of 783 million euro to the pilot line project (line 3) connecting Ha Noi Railway Station to the suburb town of Nhon, the city's first metro line.

Financiers to the project including 293 million euro from the Asia Development Bank (ADB), 250 million euro Official Development Assistance Fund (ODA) from French Government, 110 million euro ODA from French Development Agency (AFD), 73 million euro ODA from European Investment Bank (EIB) and 130 million from the Ha Noi city's budget.

The 12.5 km route, which technical studies completed in 2009, will include 8.5 km of aerial track connecting Nhon depot with Thu Le and 4 km of underground track connecting Thu Le with Ha Noi Railway Station.

The line will start at Nhon and travel to Cau Giay via National Highway 32, Ho Tung Mau and Xuan Thuy streets. It will also pass through Kim Ma, Nui Truc and Quoc Tu Giam streets.

The project, which will include a viaduct, power supply stations and a depot, will be carried out by Ha Noi Metropolitan Rail Transport Project Board (HRB).

The line, which will completed and operational in 2015, designed to carry 150,000 million passenger trips per day and will increase to 500,000 trips per day by 2030.

The metro project is part of the Viet Nam Ministry of Transport's master plan, which aims to reduce the use of private transport and enhance the urban environment. – VNS

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