HCM City continues advancing capital for metro project
HCM City has advanced additional VND500 billion (USD22.7 million) to pay contractors for the Ben Thanh-Suoi Tien metro project which is facing the capital delays.
According to Le Nguyen Quang Minh, head of HCM City Urban Railway Management Board, around 67% of the project has been finished. However, the project is short of the capital due to the slow disbursement of ODA funded by Japan Bank for International Co-operation.
The board has asked HCM City authorities to work with the Ministry of Planning and Investment to boost ODA disbursement.
Chairman of the HCM City People’s Committee Nguyen Thanh Phong said that it is essential to ensure the project pace, so the city had decided to advance VND500 billion for the project.
This year, the project needs around VND5.4 trillion (USD245.4 million), however, only VND2.1 trillion has been allocated.
Earlier, HCM City has advanced VND900 billion (USD40.9 million) for the project contractors so that they could pay workers.
Ben Thanh-Suoi Tien metro project is valued at USD2.49 billion. The project, which is started in August 2012, is nearly 20 kilometres long, connecting HCM City’s District 1 and Binh Duong Province’s Di An District
According to Le Nguyen Quang Minh, head of HCM City Urban Railway Management Board, around 67% of the project has been finished. However, the project is short of the capital due to the slow disbursement of ODA funded by Japan Bank for International Co-operation.
Ben Thanh-Suoi Tien metro project
The board has asked HCM City authorities to work with the Ministry of Planning and Investment to boost ODA disbursement.
Chairman of the HCM City People’s Committee Nguyen Thanh Phong said that it is essential to ensure the project pace, so the city had decided to advance VND500 billion for the project.
This year, the project needs around VND5.4 trillion (USD245.4 million), however, only VND2.1 trillion has been allocated.
Earlier, HCM City has advanced VND900 billion (USD40.9 million) for the project contractors so that they could pay workers.
Ben Thanh-Suoi Tien metro project is valued at USD2.49 billion. The project, which is started in August 2012, is nearly 20 kilometres long, connecting HCM City’s District 1 and Binh Duong Province’s Di An District
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