Vietnam to invest US$ 12.7 billion in railways
By Richard High22 July 2008
Vietnam's Ministry of Planning and Investment has announced plans to invest $12.7 billion constructing urban railway systems in Hanoi and Ho Chi Minh City between now and 2020, with foreign capital accounting for 77% of the sum.
About US$ 7.3 billion, 80% of which will be Official Development Assistance (ODA), is needed for the railway system in Hanoi, including three major and two branch routes totalling 128 km.
According to the Ministry of Transport, five inner-city rail routes are planned for Hanoi. These include the Ngoc Hoi-Yen Vien monorail (US$ 1.7 billion), the Tu Liem-Nam Thang Long routes (US$ 1.9 billion), the Nhon-Hanoi Railway Station (US$ 767 million), the Hanoi-Ha Dong (US$ 470 million) and the Daewoo-Lang-Hoa Lac (US$ 600 million).
Construction of the Nhon-Hanoi Railway Station route began in 2006.
In Ho Chi Minh, the new inner-city rail system will comprise six underground metro lines totalling 92 km and a tramcar or monorail system. The total cost is expected to be US$ 5.5 billion, 80% of which will be ODA capital.
Four other routes are also planned, including the Ben Thanh-Suoi Tien line (US$ 1.09 billion), Metro Route 2 (US$ 1.3 billion), Metro Route 3a (US$ 880 million) and Metro Route 4 (US$ 1 billion-plus).