$4.2 million will come from the Spanish Government for a feasibility study on Metro Line No.5.
The Spanish Government has agreed to finance $4.2 million for a feasibility study into the Metro Line No.5 project in Ho Chi Minh City.
The funding was confirmed by Ms. Maria Aparici Gonzalez, Head of the Trade Policy Department for Europe, Asia and Oceania under Spain’s Ministry of Economy, at a recent meeting with Ho Chi Minh City Deputy Chairwoman Nguyen Thi Hong.
The No.5 line, construction of which is to kick off by 2016 and be completed by 2019, runs from Bay Hien intersection in Tan Binh district to Saigon Bridge and will cost a total of $1.3 billion. It was expected that the Ho Chi Minh City Management Authority for Urban Railways would complete a feasibility study for the project in December.
Spain has also provided a loan of $249 million for the project, with the Asian Development Bank (ADB) and the European Investment Bank (EIB) agreeing to provide additional funding.