HCM City People’s Committee has proposed a plan for the first phase of Metro Line 5 which will kick off in 2023.
According to the plan, the first phase of the project which spans 8.9 kilometres from Bay Hien Intersection to Saigon Bridge and has eight stations will have investment of over VND40 trillion (USD1.7 billion).
The investment will come from the Spanish government, the Asian Development Bank, the KfW Development Bank, the European Investment Bank, and the government’s reciprocal capital of VND 12 trillion (USD522 million).
It is expected that the construction of the first phase will be completed by 2028 and put into trial run in 2029 before operating from 2030.
The committee said that this metro project will run through many major roads with heavy traffic including Hoang Van Thu, Phan Dang Luu, Bach Dang, Dien Bien Phu and connect many other lines and should help reduce traffic congestion in the future.
Ho Chi Minh City has approved eight metro projects with a total length of some 220km and estimated investment of nearly USD 25 billion. Line 1 connecting Ben Thanh – Suoi Tien, and Line 2 linking Ben Thanh – Tham Luong are now under construction.
This article was originally published in Dtinews