The Asian Development Bank has approved a US$1.1 billion finance package for two major transportation projects in Ho Chi Minh City to help unclog overcrowded roadways in the mega-city, the bank said Tuesday.
ADB said it would provide US$540 million towards a US$1.4 billion project to construct a second mass transit line in the southern economic hub, and an additional US$636 million for a US$1.6 billion project to construct a modern expressway to the south of the city.
“These projects will significantly reduce traffic congestion, help lower traffic accidents, and abate carbon emissions,” said James Lynch, director of ADB’s transport and urban transport division for Southeast Asia, said in a statement.
The 11.3 km metro rail line will stretch from Ben Thanh Market in the city center to Tan Son Nhat International Airport, and then to Tham Luong. Of which, 9.3 kilometers of the mass transit line will run underground, with 2 kilometers of elevated and transition track.
The bank said the ADB-backed metro rail line would be constructed in coordination with other metro rail lines being developed in the city. The first of them has been significantly funded by the Japan International Cooperation Agency.
The 57-kilometer expressway between HCM City and Long Thanh in Dong Nai Province will further alleviate traffic in the city center, while facilitating the transport of goods between the major ports of Ho Chi Minh City, according to ADB.
