The track of Metro Line No. 1, from Ben Thanh Market to Suoi Tien Theme Park, in HCM City (Photo: VNA)
The Ho Chi Minh city Management Authority for Urban Railways (MAUR) said, in its letter sent to Chairman of the city People’s Committee and MAUR, that Kexim will soon provide funding for the update of the pre-feasibility study, shifting from ODA investment to PPP format.
The study covers technique, finance and legal aspects to ensure the feasibility of the project.
Members of the research group and participating investors have experience in building and operating urban railway routes, including Metro Line No. 9 of the RoK’s Seoul capital, in the PPP format.
Earlier, in January 2021, MAUR worked with investors and consultancies from the Republic of Korea to discuss the study and related orientations for the project.
At the session, the Korean side, including KEXIM, Lotte group, Hyundai group, PWC Samil Company, Dohwa Engineering, Sejong and Shearman & Sterling presented the plan to update the pre-feasibility study, whose final version is expected to be submitted by the end of 2021.
The pre-feasibility study for the second phase of the Metro Line No. 5 was also previously funded by the Korea International Cooperation Agency (KOICA). However, due to many objective reasons, the format of ODA loan investment cannot be performed and is being replaced by PPP format.
The second phase of the Metro Line No. 5 has a length of about 14.56 km, of which the underground section is 8.56 km, overhead is 5.65 km and forwards on the ground is 0.35 km. Total investment is estimated at 2,183 billion EUR, equivalent to about 59 trillion billion VND./.