HCMC Metro Line 2 Project receives US$500 million loan

Nguyen Huu Tin, deputy chairman of the People’s Committee of Ho Chi Minh City and Robert Valkovic, representing the Asian Development Bank, have signed a Memorandum of Understanding (MoU) for a loan of US$500 million on May 17, for the HCMC Metro Line 2 Project.

The 20 kilometre Metro Line 2 will link Thu Thiem in District 2 with An Suong Bus Station in District 12, running through Ben Thanh Market, Pham Hong Thai, Cach Mang Thang Tam and Truong Chinh Streets, and also Tham Luong.

The route will have 10 underground stations at Ben Thanh Market, Tao Dan Park, Dan Chu Square, Hoa Hung, Le Thi Rieng, Pham Van Hai, Bay Hien, Nguyen Hong Dao, Ba Queo, Pham Van Bach and one above ground in Tan Binh District.

The $1.4 billion project will be financed by Asian Development Bank, European Investment Bank and German Development Bank and expected to be complete by 2016.

Construction of the Tham Luong Station has kicked off on 26 hectares in Tan Thoi Nhat Ward in District 12.

Metro Line 2 is expected to transport 526,000 passengers per day.

By Quoc Hung – Translated by Kim Khanh

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