Hanoi Railway Transport One Member Limited Company has spent VND17 billion (roughly US$749,228) to prepare for the operation of the Cat Linh-Ha Dong urban railway, also known as Line 2A.
In June 2015, the Hanoi People’s Committee approved the establishment of Hanoi Railway Transport One Member Limited Company to prepare for the operation of the Cat Linh-Ha Dong urban railway, also known as Line 2A. After two years, the Company has spent VND17 billion (roughly US$749,228) prior to opening.
Due to the lack of an operating budget, the Company received an advance of VND10 billion (roughly US$440,626) in 2016. However, in Q2 2017, the Company's equity was valued at VND80.8 billion (roughly US$3.56 million).
Last year, the Company focused on human resources training, especially bringing staff to Japan to join the professional training. This year, it will organize the test run for Line 2A, set up fare plans and promote the project. According to its plan, passengers can buy free tickets within first 30 days of commercial operation.
Despite the failure in the test run in the beginning of October 2017, the Cat Linh-Ha Dong urban railway is still likely to be commercially exploited in Q1 2018.
The Company’s operating fee projection is VND33.7 billion (roughly US$1.48 million), including the cost to repair its headquarter, located at No.8, Ho Xuan Huong Street, Hanoi. The salary fund is expected to be VND8.8 billion (roughly US$387,750).
The 13 kilometer Cat Linh-Ha Dong urban railway includes 12 overhead stations. Initially, the project had a total investment capital of about US$552 million. After several delays, the figure has since been raised to US$868 million.
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