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Banking & Finance

Keximbank keen on investing in HCMC urban railway lines

Released at: 16:48, 14/07/2017

Keximbank keen on investing in HCMC urban railway lines

Illustrative image (Source: VnExpress)

South Korean bank tells Transport Minister it's especially interested in line linking city center with Tan Son Nhat Airport.

by Van Dao

The Export-Import Bank of Korea (Keximbank) is keen to invest in urban railway lines in Ho Chi Minh City, the bank told a meeting with Minister of Transport Truong Quang Nghia on July 12.

Mr. Young Pyo Hong, Acting Chairman of Keximbank, said that with its capital and experience in building urban railway lines in South Korea, the bank is very much interested in investing in the line connecting the city center with Tan Son Nhat International Airport (Metro Line No.4), and Package No.2 of Metro Line No.5.

Mr. Nghia told the meeting that would also like to see Keximbank invest in three other transport projects, including the Tan Van - Nhon Trach Road (Packages 1a and 1b), and the Lo Te - Rach Soi Highway project, where land has been cleared for six lanes but only two lanes constructed. The Ministry of Transport has recently proposed the later be upgraded to four lanes and is waiting for the government’s approval.

He also spoke with Keximbank about the Trung Luong - My Thuan and My Thuan - Can Tho Expressway projects. Traffic over My Thuan Bridge in Tien Giang province is high, he said, so he proposed Keximbank be involved in the My Thuan 2 Bridge project with a preliminary investment of about $245 million.

According to Mr. Hong, the Tan Van - Nhon Trach Road is the first public-private partnership (PPP) project in Vietnam to include foreign investors, so he is looking forward to the Ministry’s assistance to finish it on schedule.

As for the Lo Te - Rach Soi Highway project, he proposed the Ministry provide detailed planning and noted that in June a bank delegation surveyed the project and is waiting for reports. Regarding the My Thuan 2 Bridge project, he said Keximbank will study the project further.

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