The agency will complete a report and hand over it to the HCM City Management Authority for Urban Railways (MAUR) at the end of 2021 in accordance with an agreement recently signed between the two sides.
The project is the follow-up of another project, also funded by KOICA aiming to provide technical assistance to the pre-feasibility and feasibility studies of the second phase of Metro Line No. 5.
The 23.39-km metro line will run along Hoang Van Thu, Phan Dang Luu, Bach Dang, and Dien Bien Phu streets and be connected to future metro lines such as Metro Line No. 1 at Sai Gon Bridge and Metro Line No. 4 at the Phu Nhuan intersection in the district of the same name.
The first phase of Metro Line No 5, linking the Bay Hien intersection and Sai Gon Bridge, will be about 8.89 km in length and cost over EUR1.5 billion, sponsored by the Spanish Government, the Asian Development Bank, the German development bank Kreditanstalt für Wiederaufbau, and the European Investment Bank.
The second phase, which connects the Bay Hien intersection with the new Can Giuoc Bus Station and the Da Phuoc Depot, will be some 1.43 km in length and cost an estimated EUR2.18 billion or more.
HCM City plans to build eight metro lines with a total investment of nearly US$25 billion.