HCM CITY — Agreements for investment and development of monorail lines No. 2 and 3 and metro line No. 4 were signed on Saturday between the management board of the HCM City Urban Railway and the Italian-Thai Development Public Co. Ltd. (ITD).
ITD proposed a feability study and applied for permission to invest in the BOT (Build-Operate-Transfer) form for the monorail lines No.2 and 3, and to use ODA loans or EPC (Engineering-Procurement-Construction) investment form for the metro line No. 4, according to Nguyen Luong Do, head of the Urban Railway management board.
Do said capital for these projects, estimated at US$4.55 billion, would be mobilised from Standard Chartered Bank.
The monorails, which can carry 90 to 125 passengers each and travel at 80 to 90 km per hour, aim to ease city traffic congestion.
The 13.75 km monorail line No. 2 will depart from the East-West Highway in Thu Thiem Urban Area in District 2, crossing Sai Gon River and Huynh Tan Phat Street, paralleling Nguyen Van Linh Street to Binh Chanh District's Binh Hung Commune.
The 6.65 km monorail line No. 3 will depart from the Go Vap Roundabout, paralleling Quang Trung Street to Quang Trung Software Park in Go Vap District.
The metro line No. 4 will run from Thanh Xuan Ward in District 12 to Nguyen Van Linh Street in District 7.
Addressing the signing ceremony, the Chairman of HCM City People's Committee, Le Hoang Quan, asked ITD to comply with technical standards, especially earthquake-proofing, for these projects.
He said after completion, the monorail and metro lines would be inter-connected.
Quan also asked authorities of districts crossed by the lines to assist investors and contractors to implement the projects and asked ITD to complete the feasibility study so that construction could start in 2012.
The signing ceremony was also attended by the representatives of the Thai Embassy in Viet Nam. — VNS