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Home / Investment / Opportunities
British, S.Korean investors eye subway
16:25, 2014/05/30
Representatives of British and South Korean engineering companies and credit institutions are in HCMC to look into investment opportunities of urban transport projects, including the second phase of metro line No. 5.
Tat Thanh Cang, director of the HCMC Department of Transport, told a conference on urban railway transport in HCMC on Tuesday that among the eight metro and three tram lines planned in the city, metro lines No. 1 and No. 2 were under construction and set for completion in 2018. This means opportunities are still open to investors interested in the remaining projects.
 
 
Cang said HCMC was in need of cooperation of experienced investors for metro developments as the city had little experience in this area.
British Consul General in HCMC Douglas Barnes said the consulate supported British companies in working with South Korean firms to develop metro lines in this city. Companies of both countries want to join the second phase of metro line No. 5 starting from Bay Hien Intersection to Can Giuoc Bus Station.
Le Khac Huynh, deputy head of the HCMC Urban Railway Management Unit, said that metro line No. 5 would be connected to other lines, except for line No. 6.
The city has found sufficient capital for the first phase of metro line No. 5 stretching from Bay Hien to Saigon Bridge and that necessary procedures are being completed for this section to break ground next year.
The first phase consists of nearly nine kilometers, eight underground and one elevated depot. Eight underground and five elevated depots will be built along 14.5 kilometers in the second phase, whose investment plan is being mapped out.
The second phase requires an estimated investment of US$1.8 billion, 38.2 hectares plus 31.6 hectares for depots and maintenance facilities in Binh Chanh District. This phase will affect 834 houses.
At the conference, British and South Korean enterprises and the HCMC authorities also discussed financial plans for the second phase of line No. 5.
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