According to the committee, the search for the PM’s approval is the basis to extend current loan agreements to carry out bid packages as per commitments with sponsors of the project.
HCMC will pay all costs resulting from the extension of signed loan agreements and not use loans of Asian Development Bank (ADB) for site clearance and compensation. The city will arrange its budget for these items instead.
Ben Thanh-Tham Luong metro line is 11.3 kilometer long with 9.3 kilometers underground, approved in 2010 with initial investment capital totaling US$1.3 billion.
At the end of February this year, the HCMC People’s Committee submitted to ministries adjusted documents of the project with the capital expected to top $2.1 billion, increasing 51 percent compared to the original.