Spain funds metro project in HCM City

HCM City’s Urban Railway Management Board and Spain have signed a cooperative agreement to implement a metro line No 5 running from Bay Hien crossroads to Sai Gon Bridge.

The US$1.85 billion metro project will be carried out under a Engineering, Procurement and Construction (EPC) contract.

The Spanish government will provide EUR500 million in Official Development Assistance (ODA) to complete the first phase of the project. Construction work is scheduled to start on April 30, 2011.

Currently, Spain and the Asian Development Bank are considering more investment to implement the second phase of the project.

This is one of three metro lines that have been deployed quicker than the two other lines. – VOV

Posted by VBN on Sep 9 2010. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry