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Vietinbank to help finance Ha Noi metro

Update: February, 28/2012 - 10:03

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

According to the SBV, Vietinbank will arrange a total of 783 million euros (US$1.01bi llion ) towards the city's first metro line (line 3), connecting Ha Noi Railway Station to the suburb town of Nhon.

Financing includes 293 million euros ($381 million) from the Asian Development Bank (ADB), 250 million euros ($325 million) in Official Development Assistance (ODA) from the French Government, 110 million euros ($143 million) in ODA from the French Development Agency (AFD), 73 million euros ($94.9 million) in ODA from the European Investment Bank (EIB) and 130 million euros ($169 million) from the Ha Noi City budget.

The 12.5 km route will include 8.5 km of aerial track connecting the 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 Ha Noi Metropolitan Rail Transport Project Board (HRB) will oversee the project, which will include a viaduct, power supply stations and a depot.

Expected to become operational in 2015, the line will carry 150,000 passengers per day, to increase to 500,000 by 2030.

The metro project is part of a Viet Nam Ministry of Transport master plan aimed at reducing the use of private transport to enhance the urban environment. — VNS

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