HCM City Metro Line 2 gets US$40m loan from ADB and KfW

HCM City People’s Committee on Thursday signed a memorandum of understanding (MOU) with two creditors including Asian Development Bank (ADB) and German Reconstruction Bank (KfW) on activating the first phase of the loans worth $40 million for Metro Line 2 connecting Ben Thanh market and Tham Luong deport, VietBiz24.com reported on Sept. 29.
This was the procedure proposed by ADB after the Management Board of Ho Chi Minh City Urban Railway (Maur) checked the progress of the bidding packages, ground clearance and environment to prepare for US$500 million loan in the next phase.

Total investment capital for Metro Line 2 Ben Thanh – Tham Luong is nearly US$1.3 billion, of which ADB contributes US$540 million, the German Bank for Reconstruction US$313 million, the European Investment Bank (EIB) US$195 million, the rest of the capital (US$326.5 million) is contributed by HCM City.

Metro Line 2, which was commenced in August, will connect the northwest of the city, new urban areas of District 12, Tan Phu District, Tan Binh District, which has high population density as Bay Hien, Ong Ta junction and areas along the route of Cach Mang Thang Tam (District 3, District 10) to the downtown area.
Source: Vietbiz24.com

Tags: HCM city metro line

Posted by VBN on Sep 30 2011. Filed under Transportation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry