Vingroup on June 25 signed a memorandum of understanding with
Hanoi authorities worth nearly USD5 billion on building new metro lines in
the capital city.
This will be the first metro line to be built using private
capital in the country.
The group has proposed investing in five out of six new metro lines
introduced by the city.
On metro line 2, the group wants to invest in the Noi Bai - Nam Thang Long
route. Vingroup also wanted to invest in the Hanoi Station - Hoang Mai and
the Nhon - Troi Town - Son Tay Town routes in the metro line 3, and also in
the metro lines 5, 6 and 8 which are all newly-planned.
According to Hanoi People Committee, besides Vingroup, there are also several
other investors registering for these metro lines.
A report by the Hanoi People's Committee released earlier this year showed
that the city would use a total investment of VND126.38 trillion (USD5.7
billion) during the 2017 - 2020 period including the state budget, ODA, PPP.
Hanoi chairman Nguyen Duc Chung told the media at that time that the city had
received proposals from three big groups to invest in metro lines, including
Lung Lo Construction Corporation, Vingroup and Xuan Thanh Group.
Speaking at the memorandum signing ceremony, Deputy PM Trinh Dinh Dung said
that Hanoi should focus on developing and connecting satellite towns in order
to reduce the burden for the city centre.
Dung also requested to speed up the construction of the Nhon-Hanoi Station
and the Cat Linh-Ha Dong metro lines, as well as mobilising raising capital
for the six new lines.