Hà Nội needs US$37 billion to finance metro line expansion plan

Passengers board a train on the Nhổn – Hà Nội Station Metro Line, which came into operation on August 8. — VNA/VNS Photo

HÀ NỘI — Hà Nội’s authorities are working on a plan to expand its urban railway network over the next decade.

According to Vice Chairman of the Hà Nội People’s Committee Dương Đức Tuấn, the plan involves raising more than US$37 billion to build ten new metro lines by 2035, spanning more than 410 km collectively.

The first phase, from 2024 to 2030, will see about 97km of metro line constructed for $14.6 billion. The second phase, from 2030 to 2035, will add another 301km, requiring $22.5 billion.

While the city anticipates being able to raise a large part of the funds on its own, approximately $28 billion, it will need nearly $9 billion in support from the central Government to implement the plan.

The Vice Chairman also shared that, in the meantime, the city was focusing its resources on the imminent construction of two urban railway lines.

The 11.5 km-long Metro Line 2, connecting Nam Thăng Long and Trần Hưng Đạo, is slated to break ground in 2025, with an investment of about $1.4 billion. It will operate ten trains, each with four carriages and is expected to be completed in 2029.

Meanwhile, the city is seeking approval to use ODA funding to finance the 8.7 km-long Metro Line 3 connecting Hà Nội Railway Station and Hoàng Mai. The estimated cost for this project is around $1.6 billion. — VNS