Spain pledges to fund 500m euro for metro project
Spain committed to raise the funding for Vietnam's metro construction project in HCM City to 500 million euro (727 million or nearly 13.3 trillion dong), according to the agreement signed between two governments on December 15 in Madrid.
Spain's Industry minister Miguel Sebastian, and Vietnamese deputy prime minister Pham Gia Khiem signed the agreement on behalf of their countries.
An AFP report said that the funding will be provided once researches are finished and the budgetary estimation is ready.
In April 2009, Idom Ingenieria Consultoria S.A (Spain) was selected to be the consultant of feasibility study for Metro Section 5 and 6 in HCM City. Accordingly, the consultant will have to finish the feasibility study for the metro section 5 Saigon-Can Giuoc with a cost of 718,035 euro and Section 6 Ba Queo-Phu Lam costing 548,330 euro. All expense is provided by Spain's Development Aid Fund (FAD)
Both metro sections are parts of the inner city railway system development project of HCM City till 2020. As estimated, the section 5 needs an investment capital of $900 million and section 6 with $320 million.
As planned, HCM City will have seven metro sections of 1, 2, 3a, 3b, 4, 5 and 6 with a total length of 107 kilometres and total cost of over $6 billion.
On the same day, two governments signed a deal of funding 65 million euro to help Vietnam build three wastewater tackling systems.
The Saigon Economic Times - December 18, 2009