2:43:25 PM | 22/3/2007
The Ministry of Investment and Planning, the Japan Bank for International Cooperation (JBIC) have signed a Memorandum of Understanding on building 15.2km of railroad linking suburban Tu Liem district to Thuong Dinh at total cost of US$1.4 billion.
Of the figure, 85 per cent is sourced from Japan’s ODA loans.
The underground section, once finished, will significantly reduce traffic congestion in urban Hanoi and boost socio-economic development.
Though the construction schedule is not available, the work is expected to be completed by 2013.
The project is within the country’s plan to build 42 km of railroad linking Noi Bai airport to Ha Dong City of Ha Tay province, planned for completion by 2020.
The construction is one among three urban rail-routes planned under the Hanoi Integrated Development and Environment Program (HAIDEP), studied and carried out by JBIC.
Project details are to be submitted to the Vietnamese government for approval by June, and the site clearance compensation framework to JBIC by July. (Vietnam Economic Times)
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