HCM City Seeking Govt Approval to Use Spanish ODA for Metro Project
Ho Chi Minh City is seeking the government approval to use the Spanish official development assistance (ODA) for the metro route 5 linking Can Giuoc station and Sai Gon bridge in the city.
The project is expected to be developed into two phases with the first using EUR500 million in ODA by the Spanish government to start in 2011.
Under the transport development program by 2020 of Ho Chi Minh City approved by the prime minister, the metro route 5 is one of the seven projects that cost $6 billion and have a combined length of 107 kilometers.
As of mid-December, Spain poured only $18.5 million into seven projects in Vietnam, ranking 55th among countries making direct investment in the Southeast Asian country. (Young People)
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