Infrastructure HCMC seeks US$1.3 billion from central Gov’t to fund metro construction By Pham Nhat Tuesday, Dec 10, 2019,19:14 (GMT+7) HCMC seeks US$1.3 billion from central Gov’t to fund metro constructionBy Pham Nhat A construction site is in front of the Ben Thanh Market in downtown HCMC. The city government is seeking funds to build the second metro line – PHOTO: VNA HCMC – The HCMC authority is seeking approval from the municipal People’s Council to borrow a total of over US$1.3 billion from the on-lending fund of the central Government to construct the city’s second metro line. According to the proposal, the city government intends to borrow US$962.61 million and 300.72 million euros in the form of foreign loans from the central Government. The metro line will link Ben Thanh Market in District 1 with Tham Luong Depot in District 12. The project currently requires total funding of more than VND47.8 trillion (US$2.09 billion), compared with the original VND26 trillion. The revised capital requirement will come from over VND37.4 trillion worth of official development assistance loans and some VND10.4 trillion from Vietnam’s reciprocal capital. Foreign loans are expected to be allocated to the HCMC budget from the central Government to develop the railway… Read full this story
HCMC seeks US$1.3 billion from central Gov’t to fund metro construction have 218 words, post on english.thesaigontimes.vn at December 10, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.