Ha Noi seeks Prime Minister's approval on Vingroup and T&T Group to carry out urban railway projects

By Bao Binh - Jan 06, 2018 | 07:55 AM GMT+7

TheLEADERThe Hanoi People's Committee has sought approval from the Prime Minister to accept two domestic investors, namely Vingroup and T&T Group to study the future construction of metro lines No. 2, No. 4 and No. 5.

Ha Noi seeks Prime Minister's approval on Vingroup and T&T Group to carry out urban railway projects
An elevated station of Line 2A: Cat Linh - Ha Dong. Photo: en.nhandan.com

According to official letter sent to the Prime Minister, the Hanoi People's Committee proposed allowing Vingroup and T&T Group, at their own cost,to make a pre-feasibility study report (project proposal) for three out of the metro lines given priority to investment to 2025.

Hanoi’s leader said the projects have attracted considerable attention from investors. However, only Vingroup and T&T Group have registered to make the project proposal up to this point. 

Both investors have proposed to invest in the metro project in the BT (Build-Transfer) form.

According to the city's Committee, these two local investors, who are in accordance with the Prime Minister's instruction in Announcement No. 35/TB-VPCP dated January 25, 2017, have good management and financial capacity and have executed A-group projects.

Vingroup proposed to execute two metro lines: line No. 5 (Van Cao - Hoa Lac section) with length of 38.4 kilometers and line No. 2 (Tran Hung Dao - Thuong Dinh section) with length of 5.9 kilometers. T&T proposed to perform metro line No. 4 (Me Linh - Sai Dong - Lien Ha section) with length of 54 kilometers.

Both investors have said they will commit their own capital for the study, make no request for reimbursement of funds, and are willing to hand over all documents, pre-feasibility study reports and feasibility study reports of the project to the Hanoi People's Committee and selected investors.

In the case of being selected as an official investor, the cost of making project proposal paid by these two investors will be accounted for the cost of the project.

Hanoi also confirmed that in case of approval, the city's People's Committee would urge investors to hire experienced and capable foreign consultants to implement the project as scheduled and submit the project proposal to the Prime Minister for consideration and report to the National Assembly for approval at the meeting in 2018.