12:32:54 PM | 14/12/2007
Vietnamese Prime Minister Nguyen Tan Dung has turned green light to the Japan-funded ODA for technical designs of a 25-kilometer inner elevated double railway route totaling VND27 trillion (US$1.69 billion) to link suburban areas of Yen Vien and Ngoc Hoi in Hanoi, Vietnam News Agency reported on December 13.
Vietnam plans to build the elevated railway system in two phases: from 2008 to 2016 with a total investment of VND18 trillion and from 2016 to 2020 with VND8.9 trillion, the VNA said.
Sixteen stations will be built to serve international and local tourists.
At the meeting of international donors held on December 6-7, Japan pledged ODA funds valued at US$1.112 billion for Vietnam in 2008, with most of the money will go to the country’s infrastructure projects.
President Triet in his recent visit to Japan called on Japanese investors to increase investing into Vietnam’s infrastructure projects.
Vietnam needs about US$140 billion from now till 2020 to develop its infrastructure networks, VinaCapital estimated. (VNA)
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