Financing Hanoi metro development - a big issue
There are many metro technologies in the world, so Hanoi should choose only one, focusing on how to ensure optimal investment costs, operation and maintenance.
Hanoi needs to build 14 metro lines in order of priority, exercise caution in choosing technology while finding a source of funding is a big issue for the capital city, Chairman of the Hanoi People's Council Nguyen Ngoc Tuan made the statement at the council's ongoing meeting.
An overview of the discussion. Photo: Thanh Hai/The Hanoi Times |
To secure the funding for the projects, many officials have suggested turning to private individuals and businesses for this purpose.
Echoing Tuan, Director of the Hanoi Department of Planning and Investment Le Anh Quan said that in addition to discussing resources for the project, the focus must also be on technology, as it is necessary to apply one technology to all railway lines to avoid each line applying a technology depending on where it borrows money from and causing difficulties in interoperability.
Speaking at the discussion, Vu Duc Bao, Head of the City Party Committee's Organisation Commission, said that the project's goal of building an extensive urban railway network with a total investment of US$50 billion was not feasible.
"If the modus operandi is not changed, it will be difficult for the network to become a reality (a case in point is the Nhon-Hanoi metro line, which took too long to build and has not been completed). Therefore, the city needs to consider the total investment and how the project is executed," Bao said.
Sharing the same view with Bao, Director of the Hanoi Construction Planning Institute Luu Quang Huy agreed that one of the city's biggest challenges is to ensure that the planned 600-kilometer metro is built.
“It will also take a lot of determination to raise the USD 50 billion needed to complete the capital's railway plan,” Huy noted.
The first line of the Hanoi Metro, Cat Linh-Ha Dong, is put into service on 6 November 2021. Photo: Pham Cong/The Hanoi Times |
There are many metro technologies in the world, so Hanoi should choose only one, focusing on ensuring optimal investment costs, operation, and maintenance.
"The capital required for construction from now until 2035 is huge and difficult for the city to raise. How the central government supports and how much is the city's counterpart capital is a matter for consideration," Nam said.
Delegate Nguyen Ngoc Viet from My Duc District expressed concern about the uniformity of technology. "The city has identified the project as a priority, but the city has other priorities, so securing funding for the project would be a huge undertaking," he said.
Delegate Nguyen Thanh Xuan from Ha Dong District agreed that it is necessary to build a fast, cheap, high-capacity public transport system, but the construction period is short while funds are limited, so it will take a lot of determination to get the network operational in ten years.
Delegate Nguyen Tien Minh from Thuong Tin District said the planning should be ambitious and not be limited to just 14 lines, but many more. "The recently approved revised Capital Law is a driving force for Hanoi to develop the urban railway network," he pointed out.
