South Korea is 4th country to invest in Vietnam subway
Following Japan, Germany and Spain, the Korean government has begun to study the subway project in HCM City.
VietNamNet Bridge - Following Japan, Germany and Spain, the Korean government has begun to study the subway project in HCM City.
According to the HCM City Urban Railway Management Board, through the Korea International Cooperation Agency (KOICA), the Korean government has granted the city $5 million to conduct a feasibility report of the No. 5 subway route, phase 2, which runs from Bay Hien intersection in Tan Binh District to the new Can Giuoc bus station in Da Phuoc commune, Binh Chanh district. It is 4.5 km long.
Also, from February 2016 the Korean consultant firm Kexim started feasibility studies of the project to build the subway route from Lang Cha Ca roundabout in Tan Binh District to the Tan Son Nhat International Airport of more than 2 km length, after the South Korean government approved $1 million for the research project.
Thus, South Korea is the 4th country to participate in HCM City’s subway project.
Earlier, Japan granted ODA loans for Vietnam to invest in the subway 1 route from Ben Thanh Market in District 1 to Suoi Tien Park in District 9, with a length of 19.7 km. This project is underway.
After that, Germany provided ODA loans for the subway project 2, phase 1, from Ben Thanh Market to Tham Luong in District 12. The construction of this route is expected to start in 2017.
Spain also granted ODA loans to the subway project 5, phase 1, from Bay Hien crossroads in Tan Binh district to the Saigon Bridge in Binh Thanh District. This project is about to be submitted to the National Assembly for approval.