|HCM City People Committee approves to advance VNĐ2.1 trillion for the Metro line No 1 project, and expects to complete the project by 2020. — VNA/VNS Photo Trần Xuân Tỉnh|
HCM CITY— The HCM City People’s Committee has approved to advance VNĐ2.1 trillion (US$93 million ) from the city budget for Metro line No 1 project between Bến Thành Market and Suối Tiên Tourist Park.
The city’s People’s Committee has directed the city Department of Finance and State Treasury to deploy advance procedures for the city’s Management Authority for Urban Railways (MAUR).
The city’s People’s Committee has also directed the MAUR to be responsible for paying the contractors according to regulation and work with related units to complete the process of adjusting the total investment of Metro lines No 1 and No 2.
In addition, the MAUR must focus on solving difficulties to speed up the disbursement process.
According to the MAUR, the late payment to the project’s contractors is due to the fact that the project is in the process of adjusting the total investment so it can not be funded by the Ministry of Planning and Investment.
The Metro Line No 1 has completed 62 per cent of the project.
The city expected to finish 80 per cent of the project at the end of this year and complete it by 2020 and able to carry passenger by 2021. — VNS