The Hanoi People’s Committee has decided to raise the total investment capital for the pilot urban railway route running from Nhon in Tu Liem district to Hanoi Railway Station to 1,275 million EUR, up 492 million EUR from the initial capital.
The Hanoi People’s Committee has decided to raise the total investmentcapital for the pilot urban railway route running from Nhon in Tu Liemdistrict to Hanoi Railway Station to 1,275 million EUR, up 492 millionEUR from the initial capital.
The additionalcapital will be spent on construction and equipment (292 million EUR),land clearance, management and other expenditures (200 million EUR), themunicipal People’s Committee said in a document on Sept. 8.
The Committee attributed the rising costs to changes in the price ofconstruction materials and the increase of minimum wages over the pasttime, as well as inaccurate calculation of the construction volume.
The project is part of Hanoi ’s master plan until 2020, under whichfive urban railway routes will be constructed in the capital city./.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
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