Hanoi seeks to use equitization income for two new metro sections
City Chairman Nguyen Duc Chung said at a National Assembly meeting Monday that the money will be used to fund the Hanoi Railway Station – Hoang Mai and Van Cao – Hoa Lac sections, which are expected to cost a total of VND106 trillion ($4.5 billion).
The VND40 trillion ($1.7 billion) Hanoi – Hoang Mai section will run 8.7 kilometers, mostly underground, from downtown Dong Da District to southern Hoang Mai District. Construction is scheduled to begin in 2022 and be completed in 2028. This section will be part of Route 3, one of eight planned in the city.
The VND66 trillion ($2.8 billion) Van Cao – Hoa Lac section will run 38.4 kilometers from downtown Ba Dinh District to the suburban area of Hoa Lac in the western Thach That District. Construction is scheduled to be completed by 2025. This section will be part of Route 5.
The Finance and Budget Committee of the National Assembly has voiced support for the proposal, but recommended that the Government reviews it to see if there are any conflicts with existing regulations on managing state capital.
The proposal will be presented to the National Assembly in a later session.
Hanoi plans to build eight metro lines with a total length of 318 kilometers to reduce frequent traffic congestion in the city which has a population of eight million now.
The first section, Cat Linh – Ha Dong, is in the final stage of safety evaluation, while the second, Nhon – Hanoi Railway Station, is set to be tested later this year. These sections are part of Route 2 and Route 3, respectively.
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