Vietinbank to arrange funding for Ha Noi metro project

28 February 2012 (Last Updated February 28th, 2012 18:30)

The State Bank of Vietnam (SBV) has appointed the Vietnam Bank for Industry and Trade (Vietinbank) to arrange $1.01bn for the Ha Noi train station - Nhon urban metro rail project.

The State Bank of Vietnam (SBV) has appointed the Vietnam Bank for Industry and Trade (Vietinbank) to arrange $1.01bn for the Ha Noi train station – Nhon urban metro rail project.

Vietinbank will arrange the funding for Nhon city’s first metro line (line 3) to connect Ha Noi railway station to the suburb town of Nhon.

Under the plan, $381m will come from the Asian Development Bank (ADB), $325m in Official Development Assistance (ODA) from the French Government and $169m will come from the Ha Noi City budget. The French Development Agency (AFD) will provide $143m in ODA while $94.9m in ODA will come from the European Investment Bank (EIB).

The Nhon urban metro rail project will involve the construction of a 12.5km rail line, 8.5km of aerial track that connects the Nhon depot with Thu Le and 4km of underground track connecting Thu Le with Ha Noi railway station.

About 12 stations will be built along the route at intervals of 1km, of which eight will be elevated and four will be underground.

A 15ha depot will be built at the western end of the route, to the north of National Road (NR) 32 and east of road number 70 for stabling and maintenance of rolling stock.

The line will start at Nhon and travel to Cau Giay through National Highway 32, Ho Tung Mau and Xuan Thuy streets, and it will also pass via Kim Ma, Nui Truc and Quoc Tu Giam streets.

The Nhon urban metro rail project will be overseen by the Ha Noi Metropolitan Rail Transport Project Board (HRB), which will include a viaduct, power supply stations and a depot.

The metro line is expected to be operational in the third quarter of 2015. It will carry 157,000 passengers per day and this is expected to increase to 458,000 by 2030.