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Urban rail projects need more funds
Prime Minister Nguyen Tan Dung has approved a plan to mobilise investments of nearly US$15 billion from both domestic and foreign sources to build urban rail systems in Ha Noi and HCM City by 2020.
The Ha Noi network, including elevated railway and underground systems, will cost $7.35 billion. Of this, $5.54 billion will be raised from foreign sources and the rest domestically.
HCM City plans to build several urban lines, both beneath and above the surface, at a cost of $7.5 billion. Around $6.3 billion is expected to be sourced from foreign investments.
The Government has asked agencies concerned to begin preparations for raising the money and said priority will be given to Official Development Assistance loans.
The Ha Noi network will comprise seven routes — Ngoc Hoi–Yen Vien; Tu Liem–Thuong Dinh; south of Thang Long–Noi Bai International Airport; Nhon–Ha Noi railway station; Ha Noi railway station–Hoang Mai; Ha Noi–Ha Dong; and south of Ho Tay (West Lake)–Ngoc Khanh–Lang-Hoa Lac.
The HCM City network will have routes linking Ben Thanh Market and Suoi Tien Park; An Suong bus station and Thu Thiem new urban area; Highway 13 and Tan Kien; Ben Cat Bridge and Nguyen Van Linh Boulevard; Sai Gon Bridge and Can Giuoc bus station; and Ba Queo crossroads and Phu Lam.
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