Hanoi has submitted a proposal to invest over VND65trn (USD2.7bn) in Metro Line 5 project linking Van Cao Street and the Hoa Lac High-tech Park.
The proposal was submitted to the prime minister in the pre-feasibility study report. Hanoi authorities suggested setting up a national appraisal council to review the proposal before submitting it to the National Assembly in late 2020.
In the proposal, Hanoi authorities suggested carrying out the project in one phase and to increase the number of stations from 17 to 21. It will use the investment from the city’s budget and the project delivery partner model. Hanoi authorities also asked the PM to let them set up a project to assemble train carriages for urban metro lines. Other related agencies were asked to draft plans to develop support industry to be less dependent on foreign sources.
Metro Line 5 will run through seven districts. It has 6.5km underground and 2km elevated railways. After running underground through Van Cao, Lieu Giai and Nguyen Chi Thanh Street, it will move up to Thang Long Avenue. An elevated section will be built above the Le Quang Dao Street and the western national railway system in Hanoi.
There will be 21 stations with six underground and one elevated station. There is an 18-ha depot in Son Dong Commune and a 7ha depot in Yen Binh Commune. Hanoi authorities expect to have 25-40 trains that have four to six carriages each. It can run at the speed of 120km/h on the ground and 90km/h underground.
The estimated cost is over VND65trn (USD2.7bn), of which VND24.8trn (USD1bn) are construction cost and VND16.6trn (USD713m) are equipment cost. The city will spend VND15trn (USD644m) from the city’s budget, VND18trn (USD773m) to VND20trn from divestment from state-owned enterprises, VND10trn (USD430m) from government bonds and the rest from loans
The project construction will start in 2020 and be put into operation in 2026. Laodong/Dtinews
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