Hanoi metro project faces another delay due to finance delay
>> Hanoi plans to spend USD40bn to build 10 metro lines
>> Hanoi metro developer accused of stealing graphic designs
The Cat Linh-Ha Dong metro line which was planned to enter trial operation in October this year is facing a high risk of being failing to meet the schedule because of a delayed release of funds.
Almost all of the 13-km project’s work has been finished, but some items such as fences, road surface and some equipment have not yet been completed, affecting the project’s pace.
The equipment installation has been slated to be carried by the end of this month for the project’s trial operation in October before the official run in the second quarter of 2018. However, since May this year, the project has been implemented at a very slow pace due to financial constraints.
The first of 13 trains imported from China for the route were transported to Vietnam in February. But since then no more trains have been handed over to Vietnam despite the planned time between June and July this year.
The project’s EPC contractor, China Railway Sixth Group Co., Ltd, explained that the sluggish construction has been blamed for the slow capital disbursement from the Chinese Eximbank.
In May 2017, Vietnam signed an agreement with China Eximbank to get an additional loan of USD250.62 million for Cat Linh-Ha Dong metro project. After the signing, the two sides had to complete some legal procedures for loans to be disbursed.
The Ministry of Transport has urged the Ministry of Finance and the Ministry of Justice to work the Chinese bank to speed up the disbursement, but the procedures have not yet been fixed.
An official from the Ministry of Transport admitted the slow pace of the project so it may fail to meet the scheduled trial run in October.
Almost all of the 13-km project’s work has been finished, but some items such as fences, road surface and some equipment have not yet been completed, affecting the project’s pace.
Cat Linh-Ha Dong metro project
The equipment installation has been slated to be carried by the end of this month for the project’s trial operation in October before the official run in the second quarter of 2018. However, since May this year, the project has been implemented at a very slow pace due to financial constraints.
The first of 13 trains imported from China for the route were transported to Vietnam in February. But since then no more trains have been handed over to Vietnam despite the planned time between June and July this year.
The project’s EPC contractor, China Railway Sixth Group Co., Ltd, explained that the sluggish construction has been blamed for the slow capital disbursement from the Chinese Eximbank.
In May 2017, Vietnam signed an agreement with China Eximbank to get an additional loan of USD250.62 million for Cat Linh-Ha Dong metro project. After the signing, the two sides had to complete some legal procedures for loans to be disbursed.
The Ministry of Transport has urged the Ministry of Finance and the Ministry of Justice to work the Chinese bank to speed up the disbursement, but the procedures have not yet been fixed.
An official from the Ministry of Transport admitted the slow pace of the project so it may fail to meet the scheduled trial run in October.
Leave your comment on this story