HCM CITY — The Government has guaranteed sufficient capital for HCM City’s No1 Metro project linking Bến Thành Market and Suối Tiên Theme Park, according to Trần Vĩnh Tuyến, deputy chairman of the city’s People’s Committee.

The project construction is now on schedule, he said.  

The No 1 Metro project is one of the eight metro lines of HCM City Metro project managed by the city’s Management Authority for Urban Railways.

The project includes four major bidding packages using ODA (Official Development Assistance) and funds from Japan International Cooperation Agency (JICA).

HCM City Metro project was the first proposed in 2001 as part of a comprehensive public transport plan for HCM City and neighbouring provinces to mitigate traffic congestion.

It also includes three monorail lines with a total length of 37km and six partly underground metro routes running a total of 107km from Bến Thành to Suối Tiên, Bến Thành to Tham Lương, Bến Thành to Bình Tân, Lăng Cha Cả to Văn Thánh, Thủ Thiêm to Cần Giuộc, and Bà Quẹo – Phú Lâm.

Bến Thành will be a hub connecting all the lines.

The PM agreed with the city authorities to approve project adjustments in August 2011. After investment costs were re-calculated by consulting agencies, costs increased to more than VNĐ47.3 trillion (US$2.1 billion).

According to the People’s Committee, the city has signed three loan agreements worth VNĐ31.2 trillion ($1.37 billion), of which VNĐ11.93 trillion ($525 million) has been disbursed.

The No 1 Metro project construction has completed 48 per cent of its target.   

The first bidding package No 1A includes underground stations near the Opera House, while Ba Son in District 1 has completed 57 per cent.

The second bidding package No 2 from Ba Son to Long Bình Depot in District 9 has completed 74 per cent.   

The project’s above-ground construction is progressing quickly along the Hà Nội Highway, where it runs from the Sài Gòn Bridge to Suối Tiên Park in District 9. — VNS