Gov’t to seek $8 bln in foreign investment to build three metro routes in HCM City

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HCM City’s metro line No. 1 is under construction. The Government is set to solicit foreign investment in three other metro routes in the city in the next five years. — VNA/VNS Photo

HCM CITY — The Government is soliciting billions of dollars in foreign investment in metro routes and other infrastructure projects in HCM City in the next five years.

The metro projects are in an approved list of public projects seeking foreign investment in the 2021-25 period.

The Government is seeking US$4.57 billion for the 36.2km metro line No 4 spanning districts 1, 3, 4, 7, 12, Gò Vấp, Phú Nhuận, and Nhà Bè, which are the most populous areas in the southern economic centre, and $1.82 billion for line No 3 and $1.48 billion for the second phase of line No 2.

The city plans to build eight metro routes in all, with the aim of having a complete and modern urban metro system, raising the capacity of public transport in the city.

The metro No 1 project is currently being built with official development assistance and funds from the Japan International Cooperation Agency, and is expected to be completed by the end of 2023 or early 2024.

The Government is also seeking investments in many other rail and road projects in the city and nearby provinces.

They include the Trảng Bom – Hòa Hưng rail link from HCM City to the neighbouring southern provinces of Bình Dương and Đồng Nai ($2.97 billion) and the HCM City – Thủ Dầu Một – Chơn Thành expressway ($1.1 billion).

In the next five years the Government hopes to find foreign investors for 157 projects in several areas, such as traffic infrastructure, industrial park infrastructure, sewage and waste processing projects, and other sectors. — VNS

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