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to make foreign loans of nearly 1.1 billion usd to develop hanoi – hoang mai station metro line project

hanoi - hoang mai station metro line project

The Ministry of Planning and Investment has sent document to People’s Committee of Hanoi city on the project of proposed urban railway No.3 belonging to Hanoi – Hoang Mai railway.

In particular, Hanoi People’s Committee has earlier sent a writing document to the Ministry of Planning and Investment proposing the project of urban railway No. 3, the region from Hanoi-Hoang Mai station using Asian Development Bank loans (ADB). ) and other co-sponsors.

About this proposal, the Ministry of Planning and Investment said that the project has an investment capital of 1.225 billion USD, of which foreign loan is 1.075 billion USD. In which, the loan amount from ADB is 450 million USD, reciprocal capital is 150 million USD.

However, the Ministry of Planning and Investment confirmed in the memorandum of understanding of the ADB Program Delegation in April 2017 that ADB has not included the project in the list of projects expected to supported for Vietnam in period from 2018-2020.

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“Hanoi People’s Committee must continue to work with ADB and other co-sponsors to clarify the ability of fund arrangement for the project, which laying foundation for the Ministry of Planning and Investment to conduct further procedures as stipulated.” stated the document.

According to new regulation of government on management and use of ODA capital and preferential loans from foreign sponsors, the Ministry of Planning and Investment of the project must collect opinions from relevant ministries and sectors. Currently, the Ministry has received written comments from the Ministry of Finance, Ministry of Construction, State Bank on this project.

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Hanoi – Hoang Mai Urban Railway No.3 is expected to be 7.3 km long, constructed underground, belonging to the planning of urban railway projects in Hanoi.

According to the transport system planning of Hanoi to 2030, vision to 2050 approved by the Prime Minister, the city will construct 10 urban railways. The total investment is estimated at 40,056 billion USD, of which the demand for investment capital from 2017 to 2020 is 7.55 billion USD; 7.6 billion USD from 2021 to 2025; 3.56 billion USD from 2026 to 2030; 21.3 billion for period from 2031 onward.

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to make foreign loans of nearly 1.1 billion usd to develop hanoi – hoang mai station metro line project
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