HCMC wants Indian investment in billion-dollar metro lines

By Tat Dat   November 22, 2023 | 04:39 am PT
HCMC wants Indian investment in billion-dollar metro lines
A train runs on the Ben Thanh – Suoi Tien Metro Line in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Ho Chi Minh City has invited Indian investors to fund its nine metro lines, three monorail lines, and eight high-tech projects worth billions of U.S. dollars.

The metro and monorail projects cost a total of VND437 trillion ($19 billion), according to the India Business Forum -Ho Chi Minh City on Tuesday.

The projects seek to lessen traffic congestion and increase the city’s sustainability.

The Saigon Hi-Tech Park also seeks investment in eight projects, comprising three research and development projects, four manufacturing projects, and one service project. Together they require a minimum investment of $515 million.

Other notable projects that the city wants to attract investors include the Can Gio Hub ($5.3 billion), Long Binh Logistics Center, ($250 million), Fourth Ring Road ($2.5 billion), HCMC – Moc Bai Expressway ($838 million) and Can Gio Bridge ($416 million).

India has invested $130 million in HCMC in 237 projects as of October, according to deputy director of the ITPC Ho Thi Quyen.

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