Capital to adjust metro line development plan

June 25, 2024 3:36 PM GMT+7

VGP - The Ha Noi People's Committee has proposed several changes to a master plan to build a (transit-oriented development) TOD-based metro line by 2045.

Capital to adjust metro line development plan- Ảnh 1.

Illustration photo

Major changes will be made to the city's "1 Plan, 3 Phases" program. In the first phase (2024-2030), Ha Noi plans to build nearly 97 km of metro lines (24 percent of the master plan progress) for US$14.6 billion.

In the original plan, the capital is expected to spend about US$16.2 billion on the first phase.

In 2021-2035, Ha Noi aims to complete the construction of 301 km of metro lines for about US$22.6 billion, slightly higher than originally conceived.

After 2035, the capital city will allocate more than US$18 billion to complete the master plan for developing metro lines. This figure remains unchanged from the original plan.

The main funding for Hanoi's metro projects comes from the State budget, G-bond issues, ODA loans, and others.

The capital seeks a total of US$55.4 billion to build all 14 planned metro lines of 600 km between now and 2045, a figure unchanged from the original plan seen in early May 2024.

In 2026-2035, the capital will need about US$8.6 billion in funding from the state budget. After 2035, the city will finance the plan from its own coffers.

According to the plan, private investors will participate in metro projects. They may be allowed to operate part of the facilities and develop business activities in the stations to get a return on their investment.

The city authorities will launch a competitive bidding process for the selection of the private contractors who will be in charge of the purchase of the rolling stock.

Ha Noi proposed four regulations on urban planning, four on land requisition, resettlement, and compensation, four on financing, eight on project development and management, and one on technical and technological standards to facilitate the execution of metro line projects.

The plan will be discussed at the 17th meeting of the Ha Noi People's Council on July 1-5.

Ha Noi officially launched its first metro line, the Cat Linh-Ha Dong project, at the end of 2021 after construction began in October 2011.

The second, the Nhon-Ha Noi Station project, is nearing completion and is scheduled to be tested at the end of this year./.

Kim Loan