The ministries’ opinions will create a basis to submit the adjusted investment policy of the project to the Prime Minister for approval.
According to the proposal, the implementation time of the project will be extended from 2014 to 2026. The project name which is the second metro line project is suggested being changed into sustainable urban traffic project.
The total investment capital of the project is proposed to increase by VND1.5 trillion (US$65.6 million), including $10 million loan from Asian Development Bank (ADB) and $48.95 million loan from Clean Technology Fund (CTF) and $6.5 million counterpart funds from the city budget.
The capital change is due to price escalation, exchange rate change and regulations on investment cost management.
The total adjusted capital does not exceed the ODA loan from ADB and it is expected to ensure funds for implementing bid packages of the project whose implementation is scheduled to wrap up in December, 2026.
