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June 10, 2008

Ho Chi Minh City needs $2bn metro projects

Ho Chi Minh City is eyeing Japanese official development assistance (ODA) for investment in two metro projects at the total cost of $2.13 billion.

Of this amount, $1.8 billion will come from ODA sources and the remainder from the State budget.

In its recent submission to the Ministry of Planning and Investment, the HCM City People's Committee expects that some $1.05 billion will be provided by Japanese donors for investment in the Ben Thanh-Tham Luong metro route. Some $200 million required for the route will be raised from domestic sources.

With regard to the Ben Thanh-Western Bus Station metro system, which needs a total investment of $880 million, $750 million is expected to come from Japanese ODA credits. Domestic partners are expected to contribute almost 2.1 trillion VND (roughly $130 million).

The two metro projects are scheduled to kick off in 2009 and start operations by 2015.

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