The Saigon Times | Wed, Jul 6, 2016 08:55:13 AM
The HCMC government has proposed the Ministry of Planning and Investment add a monorail line project worth VND8.4 trillion (US$376.6 million) to the list of projects to be implemented under the public-private partnership (PPP) format.
If the ministry okays the proposal, the project will get official development assistance loans, so the city can move on to conducting the feasibility study for the 16.5-kilometer monorail line designed to start from Phan Van Tri Intersection in Go Vap District and run along Nguyen Oanh Street. The elevated monorail line will end at Tan Chanh Hiep Ward in District 12, where a maintenance depot covering almost six hectares will be built.
Preparations for the project are anticipated for completion by the end of 2017. Construction is scheduled to commence in 2019 and be complete in 2024.
Monorail line No.3 will connect the city’s urban railroad system with public transport routes and ease traffic congestion.
The HCMC government hopes the monorail line would attract a large number of passengers and investors to shopping mall projects at stations of the route when it is put into service. Proceeds from ticket sales, advertisements and shop leases are expected to produce a high return on investment.
The project has drawn interest from Thailand-based ITD, but the city plans to pick the investor through an international tender. As for PPP projects, the Government will get involved in land clearance and relocation of technical works.
According to a revised master plan for transport development approved by the Government, HCMC will have eight metro lines, one tramway and two monorail lines.
Monorail line No 2 stretching more than 27 kilometers is planned to link districts 8, 2 and Binh Thanh.
Source: The Saigon Times