HANOI, July 4 (Engineering Daily) -- Hanoi People’s Council has approved total investment of over VND 87 trillion ($3.8 billion) to build 4 Hanoi urban railway projects in 2017-2020 period.
Particularly, these four projects include construction of Metro line No.3 section Hanoi Railway Station - Hoang Mai; construction of Metro line No.2 section Tran Hung Dao - Thuong Dinh; South Thang Long - Hanoi Metro line and Metro line No. 5 section Van Cao - Hoa Lac. Funds are allocated from the investment preparation capital for the construction projects of the city, and these projects are invested in the form of PPP.
The Hanoi People’s Council has also approved via Resolution the list and capital plan of city’s infrastructure projects, new projects to support vertical sectors in the period of 2017-2020 and city budget projects to support districts and towns under mid-term public investment plan of 2016-2020 period.
According to the representative of the Hanoi Department of Planning and Investment, the demand for investment capital for new construction projects in the 2017-2020 period is about VND 55 trillion while the available capital is capable of allocating just over VND 21 trillion. Therefore, the principle of arranging capital shall be prioritized in vertical sector, in which projects in urgent implementation will be accelerated the procedure of proposing specific mechanism and funds allocation immediately.
