HCMC proposes to adjust total investment of two urban railway projects

SGGP
Ho Chi Minh City People’s Committee Office on Monday said that the committee had sent a document to the Ministry of Planning and Investment, proposing it to give the city assistance and guidance to adjust the total investment capital of two metro projects namely Ben Thanh-Suoi Tien and Ben Thanh-Tham Luong.

An above the ground stretch of Ben Thanh-Suoi Tien metro line in HCMC (Photo: SGGP)

An above the ground stretch of Ben Thanh-Suoi Tien metro line in HCMC (Photo: SGGP)

Specifically, the city suggested adjustment in midterm capital plan 2016-2020 and arrangement of central budget funds for implementation of Official Development Assistance (ODA) funded projects in the city in 2019.

Currently, the city is implementing 11 projects including eight investment and three technical assistance projects with the total capital of VND104,071 billion (US$4.48 billion). Of these, ODA source is VND88,565 billion and reciprocal capital is VND15,506 billion.

Among the 11 projects are Ben Thanh-Suoi Tien and Ben Thanh-Tham Luong. Disbursement for these two projects has been stagnant because they are still waiting for the Ministry of Planning and Investment’s guidance to adjust total investment capital.

Other comprise the second phase of the water environment project in the basin of Tau Hu-Ben Nghe, Doi and Te canals. The project has not been allocated with funds by the Ministry of Planning and Investment and the city. The last one is the second phase of environmental hygiene project.

According to the capital plan in 2019, ODA capital allocated from the central budget is VND199 billion ($8.56 million) and counterpart funds nears VND1.2 trillion ($51.62 million).

By Quoc Hung – Translated by Hai Anh

Other news