The HCMC Urban Railway Management Board on November 24 in coordination with the Korea International Cooperation Agency (Koica) organized an international workshop to seek funds for the second phase of metro line no.5 from Can Giuoc bus station to Bay Hien crossroads.
|The purple line is Can Giuoc-Bay Hien metro route (Photo: the HCMC Urban Railway Management Center)|
The second phase is estimated to have a total investment capital of $2.1 billion. Of these, South Korea has committed to finance $500 million and the city has found no source for the remaining funds.
According to the board, the second phase will build the rail over 14.5 kilometers including 5.8 kilometer above ground and 8.8 kilometer underground sections, 13 stations and one depot in Da Phuoc commune, Binh Chanh district.
The board is now establishing the second phase’s feasibility study report and expected to submit it to the HCMC People’s Committee next year, said Mr. Hoang Nhu Cuong, deputy head of the board.
After considering, the committee will send the report to the Prime Minister to assess and consult the National Assembly about the project’s investment policy in accordance with the Public Investment Law.
The metro line no.5 plays a significant role in developing the urban railway system in HCMC, connecting metro routes together and linking Nguyen Van Linh street up to Ben Luc-Long Thanh expressway.
From the route, passengers can continue travelling to HCMC’s neighboring provinces such as DongNai, Binh Duong and Long An.
The feasibility study of the first phase has been built and submitted to the city People’s Committee to consider and send to the Government for assessment.