HCMC – Hanoi City has proposed increasing the cost of the Nhon-Hanoi Station urban rail line by VND1.9 trillion and extending the deadline for the completion of the project until 2027.
The higher-than-expected cost is ascribable to foreign exchange rate volatility, adjustments to the workload, and higher compensation, site clearance and legal costs, according to the local authority.
The investment cost of the urban railway is expected to rise from VND32.9 trillion to VND34.8 trillion, up over VND1.9 trillion.
The city authority also proposed adjusting the implementation time of the project from 2009-2022 to 2009-2027, excluding the 24-month warranty. Specifically, the elevated section is slated to be opened to traffic this year, and the entire line will be put into operation in 2027.
The Nhon-Hanoi Station metro line comprises an 8.5-kilometer-long elevated section and a four-kilometer underground section.
Work on the project started in 2009 and was expected to be completed in 2015. However, the deadline for the entire project has been extended four times.
Source: The SaigonTimes