The Hanoi People's Committee has proposed several changes to a master plan to build a (transit-oriented development) TOD-based metro line by 2045.
| A stretch of the Nhon-Hanoi Station metro line. Photo: The Hanoi Times |
Major changes will be made to the city's "1 Plan, 3 Phases" program. In the first phase (2024-2030), Hanoi plans to build nearly 97 km of metro lines (24% of the master plan progress) for US$14.6 billion.
In the original plan, the capital is expected to spend about $16.2 billion on the first phase.
In 2021-2035, Hanoi aims to complete the construction of 301 km of metro lines for about $22.6 billion, slightly higher than originally conceived.
After 2035, the capital city will allocate more than $18 billion to complete the master plan for developing metro lines. This figure remains unchanged from the original plan.
The main funding for Hanoi's metro projects comes from the State budget, G-bond issues, ODA loans, and others.
The capital needs a total of $55.4 billion to build all 14 planned metro lines of 600 km between now and 2045, a figure unchanged from the original plan seen in early May 2024.
In 2026-2035, the capital will need about $8.6 billion in funding from the state budget. After 2035, the city will finance the plan from its own coffers.
According to the plan, private investors will participate in metro projects. They may be allowed to operate part of the facilities and develop business activities in the stations to get a return on their investment.
The city authorities will launch a competitive bidding process for the selection of the private contractors who will be in charge of the purchase of the rolling stock.
Hanoi proposed four regulations on urban planning, four on land requisition, resettlement, and compensation, four on financing, eight on project development and management, and one on technical and technological standards to facilitate the execution of metro line projects.
The plan will be discussed at the 17th meeting of the Hanoi People's Council on July 1-5.
Hanoi officially launched its first metro line, the Cat Linh-Ha Dong project, at the end of 2021 after construction began in October 2011.
The second, the Nhon-Hanoi Station project, is nearing completion and is scheduled to be tested at the end of this year. The project started in 2010.
