Vietnam Needs US$12.7 Bln to Build Railway Projects in Hanoi, HCMC by 2020
Vietnam will acquire US$12.7 billion to carry out railway projects in Hanoi and Ho Chi Minh City from now to 2020 with foreign investment to account for 77 per cent, the Ministry of Planning and Investment said.
Of the total figure, US$7.3 billion is needed to construct 128 kilometers of railway tems in Hanoi and US$5.4 billion is to build six metro routes with 92 km in length.
The Ministry of Planning and Investment said urban transport projects often require huge investment and a long time for construction, so they are not attractive to investors. Most of projects being researched will use ODA loans.
So far, only US$4.8 billion in ODA has been pledged, accounting for only 49 per cent of the required sum of US$9.8 billion.
The Ministry of Transport said that research on the five inner railway routes in Hanoi is underway and four metro routes in Ho Chi Minh City are planned. (VietnamNet)
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