T&T Group and France’s Bouygues signed two memorandums of understanding in investing in Hanoi urban railway project route No. 3 and upgrading Hang Day Stadium in Hanoi.
Ho Chi Minh City (HCMC)’s future urban railway system is scheduled to includes eight major urban railway routes divided into 12 project packages of which three have been approved, two have been submitted to the Government and seven have not been started yet.
The 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.
The main reason for the delayed progress of Cat Linh-Ha Dong urban railway project this year was due to problems related to the agreement on an additional loan worth US$250 million signed between the Export-Import Bank of China (CEB) and the Ministry of Finance of Vietnam (MoF) on May 11, 2017, according to an official of the Railway Project Management Unit (RPMU).
The planned trial run of the Cat Linh-Ha Dong metro line, Hanoi's first urban railway project one more time does not meet its deadline and will be delayed until September 2018.
At the meeting with Deputy Prime Minister Trinh Dinh Dung on November 22, Richard Courey, Chairman of Vision Transportation Group (VTG) expressed the group’s desire to invest in the urban railway No.2 connecting Noi Bai airport and the West lake in the form of public-private partnerships (PPPs).
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.
