Hanoi raises investment in urban railway project

The Hanoi People’s Committee has decided to raise the total investment capital for the pilot urban railway route running from Nhon in Tu Liem district to Hanoi Railway Station to 1.275 billion EUR, up 492 million EUR from the initial capital.

The additional capital will be spent on construction and equipment (292 million EUR), land clearance, management and other expenditures (200 million EUR), the municipal People’s Committee said in a document on September 8.

The committee attributed the rising costs to changes in the price of construction materials and the increase of minimum wages over the past time, as well as inaccurate calculation of the construction volume.

The project is part of Hanoi’s master plan until 2020, under which five urban railway routes will be constructed in the capital city.

Tags: Hanoi urban railway project

Posted by VBN on Sep 10 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