Metro line No. 2, phase 2 (Ben Thanh - Thu Thiem section), is promoting investment with the Export-Import Bank of Korea (Kexim)

Metro line 2 (phase 2) Ben Thanh - Thu Thiem section - Source: MAUR

The Ho Chi Minh City Urban Railway Management Board (MAUR) has just sent report No. 2040/BQLDSĐT-CBĐT to the Ho Chi Minh City People's Committee on the investment preparation status of Metro Line 2 Project, Phase 2 (Ben Thanh - Thu Thiem section).

According to the report, MAUR has carried out investment promotion work with the Export-Import Bank of Korea (Kexim) and has basically completed the scope of technical support work for investment preparation.

However, the two sides still have differences in orientation regarding the form of implementing the technical support project.

In particular, Kexim maintains the orientation of supporting research and implementation in the form of a Technical Support Project according to current regulations.

MAUR proposed that Kexim study the possibility of applying the form of conducting surveys and sending Korean experts to work directly. After that, MAUR will be the unit receiving the research products to shorten the time to carry out procedures.

MAUR also said that Ho Chi Minh City is currently adjusting the general planning of the City to 2040, with a vision to 2060, and establishing the Project for the Development of the Urban Railway System of Ho Chi Minh City according to Conclusion No. 49-KL/TW of the Politburo.

According to the draft adjustment of the general planning, metro line No. 2 has been extended in direction and there may be adjustments in investment phases.

Up to now, the adjustment of the general planning has not been approved by the Prime Minister. As for the draft Project for the Development of the Urban Railway System of Ho Chi Minh City according to Conclusion No. 49-KL/TW of the Politburo, the Ministry of Transport is collecting opinions from relevant ministries and branches to submit to the Prime Minister.

Therefore, the Urban Railway Management Board will discuss specifically with Kexim Bank on how to implement the technical support project after the master plan adjustment is approved and the Ho Chi Minh City Urban Railway Development Project is approved.

Currently, Ho Chi Minh City is clearing the land to prepare for the start of phase 1 of metro line 2 from Ben Thanh to Tham Luong in 2025. Phase 1 of the project has a total investment of nearly 47,900 billion VND, with a length of 11 km.

Phase 2 of the project will invest in 2 sections including Ben Thanh - Thu Thiem and Tham Luong - Tay Ninh Bus Station. The total investment of these 2 sections is about 1.5 billion USD