Wednesday, August 22 2018

VietNamNews

Stronger yen hits cost of metro line

Update: October, 07/2014 - 08:37
A map of the Ben Thanh – Suoi Tien Metro Line in HCM City. The cost of the metro line is set to increase from VND47.3 trillion (US$2.22 billion) to over VND54 trillion following an appreciation of the yen. — VNS File Photo

HCM CITY (VNS) — The cost of HCM City's Metro Line No 1 linking Ben Thanh Market and Suoi Tien Tourist Park is set to increase from VND47.3 trillion (US$2.22 billion) to over VND54 trillion following an appreciation of the yen, a local newspaper said quoting a report from the HCM City Management Authority of Urban Railway.

According to Tuoi Tre (Youth) newspaper, a consortium of Japan's Sumitomo Corporation and Viet Nam's Civil Engineering Construction Corp No. 6 (Cienco 6) will design, survey, execute, supply equipment, test, operate, offer utility services, and maintain the stations in the 17.1km overhead section of the line.

But the newspaper did not provide further details about what has caused the cost escalation.

The line was approved in 2007 at a cost of nearly VND17.4 trillion, including VND14.4 trillion from Japanese ODA loans, and nearly VND3 trillion from the Government.

In September 2009 the cost was revised to 236.62 billion yen or more than VND47.3 trillion.

On July 7 this year, it again approved an increase to VND54 trillion or 236.62 billion yen.

Construction began in August 2012, and the metro is scheduled to become operational in 2017.

At the ground-breaking ceremony Nguyen Do Luong, head of MAUR, had said the line would be able to transport 186,000 passengers daily by 2017 and 620,000 by 2020.

Set to become the backbone of the city's Mass Rapid Transit (MRT) system, the nearly 20km route will pass through Districts 1, 2, 9, Binh Thanh, and Thu Duc and Di An town in Binh Duong Province.

It will consist of a 2.6km underground section connecting Ben Thanh Market and Ba Son Shipyard with three underground stations.

The 17.1km overhead section will have 11 stations and see the line run up to Suoi Tien in District 9. — VNS

Send Us Your Comments:

See also: