Infrastructure HCMC’s metro project costs cut by US$146.5 million By Le Anh Thursday, Nov 14, 2019,12:12 (GMT+7) HCMC’s metro project costs cut by US$146.5 millionBy Le Anh Workers at an underground section of the first metro line project in HCMC. The investment required for the project has been reduced by VND3.4 trillion – PHOTO: LE ANH HCMC – HCMC has cut unnecessary costs to lower the investment capital for its first metro line by VND3.4 trillion (US$146.5 million) to VND43.6 trillion. On the sidelines of a conference on traffic safety on November 13, HCMC Vice Chairman Vo Van Hoan said the municipal government would submit the plan on investment reduction to the municipal People’s Council so that the council can issue a resolution to allocate the reciprocal capital for the project at its meeting at the end of this year. Hoan stated that the total investment has been greatly reduced, but this will not affect the quality of the project. The project is 75% complete, so all major variables have been identified and there are few chances of additional costs arising. In principle, the Government will disburse the capital as soon as the city adjusts the investment for the project. However, the process is… Read full this story
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