3:26:29 PM | 7/8/2005
ADB Says Ready to Lend US$300Mln to
The Asian Development Bank (ADB) has announced it is willing to provide US$300 million worth of preferential loan for construction of
Accordingly, the bank will give Vietnam US$300-million loan with an interest rate of 0.4 per cent per year in 30 years, with a 10-year grace period.
The project is expected to start early 2006 and become operational by end-2008 with total investment capital of around US$937 million.
Currently, the government is considering the feasibility study, in which 70 per cent of the total investment will come from foreign sources while the remaining 30 per cent would come from the city's budget.
The first underground metro route will run from Ben Thanh Market - August Revolution Road - Tham Luong, and is 10.18 km long. While the second will link Ben Thanh Market - Nguyen Thi Minh Khai - Tran Phu - Hong Bang - King Duong Vuong and the Mien Tay Bus Depot, and has total length of 10.414 km with an underground section and an elevated section.
The two lines would be able to carry 202,000 passengers per day and ease traffic jams in
According to Mr. Le Hong Ha, Deputy Head of
(Youth)
Vietnamese
