HCMC clarifies capital increase of second metro project: Ministry

The Ministry of Construction has instructed the Ho Chi Minh City People’s Committee to clarify investment capital increase of the second metro project Ben Thanh-Tham Luong.

The committee has been asked to make clear reasons for the capital increase and responsibilities of individuals and organizations in establishing, assessing and approving the project.

Besides, it should sufficiently provide for possible cost increase in the adjustment preventing from changing total investment capital for many times.

The city People’s Committee approved Ben Thanh-Tham Luong metro project early 2010 and adjusted its investment capital for the first time three years later, taking the total fund to US$1.37 billion.

Recently, the committee announced that investment funds will continue increasing by US$700 million to total US$2.07 billion. The second adjustment will hike the project’s total capital by 51 percent. 

By D. Tuan – Translated by Hai Mien

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