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British, RoK investors eye subway in HCM City

(14:16:56 PM 30/05/2014)
(Tinmoitruong.vn) - Representatives of engineering companies and credit institutions from the United Kingdom and the Republic of Korea (RoK) are in Ho Chi Minh City to look into investment opportunities of urban transport projects, including the second phase of metro line No. 5, said a local newspaper.

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The Saigon Times Daily quoted Director of the municipal Department of Transport Tat Thanh Cang as saying at a conference on urban railway transport in HCM City on May 27 that among the eight metro and three tram lines planned in the locality, metro lines No. 1 and No. 2 were under construction and set for completion in 2018. This means opportunities are still open to investors interested in the remaining projects.


Cang said HCM City was in need of cooperation of experienced investors for metro developments as the city had little experience in this area. 


British Consul General in HCM City Douglas Barnes said the consulate supported British companies in working with RoK firms to develop metro lines in this city. Companies of both countries want to join the second phase of metro line No. 5 starting from Bay Hien Intersection to Can Giuoc Bus Station.


Le Khac Huynh, Deputy Head of the HCM City Urban Railway Management Unit, said that metro line No. 5 would be connected to other lines, except for line No. 6.


The city has found sufficient capital for the first phase of metro line No. 5 stretching from Bay Hien to Saigon Bridge and that necessary procedures are being completed for this section to break ground next year.


The first phase consists of nearly nine kilometers, eight underground and one elevated depot. Eight underground and five elevated depots will be built along 14.5 kilometres in the second phase, whose investment plan is being mapped out.


The second phase requires an estimated investment of 1.8 billion USD, 38.2 hectares plus 31.6 hectares for depots and maintenance facilities in Binh Chanh district. This phase will affect 834 houses.


At the conference, British and RoK enterprises and the HCM City authorities also discussed financial plans for the second phase of line No. 5.

Source: VNA
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