Proposal to approve Metro Line 3 Project, Hanoi Station

Trains of Urban Railway Project No. 3, Nhon - Hanoi Station section.

The Ministry of Finance has just issued Official Dispatch No. 5906/BTC - QLN to the Government leaders regarding the Project "Urban Railway Line No. 3, Hanoi Station - Hoang Mai section" of the Hanoi People's Committee.

This is a project funded by loans from the Asian Development Bank (ADB), the French Development Agency (AFD) and the German Development Bank (KfW). The domestic financial mechanism for foreign loans in this project is that the Hanoi People's Committee re-borrows all foreign loans.

The total foreign loan capital of the Project is expected to be 1,258.32 million USD, equivalent to 29,130 billion VND, of which ADB loan capital is 801.65 million USD; KfW loan capital is 258.05 million USD; AFD loan capital is 198.62 million USD.

In Official Dispatch No. 5906, the Ministry of Finance stated that the Project has met the regulations and conditions and has sufficient legal basis to submit to the Prime Minister for consideration and approval of the Project Proposal in accordance with the provisions of the Law on Public Debt Management 2017, the Law on Public Investment 2024, Decree No. 114/2021/ND-CP and Decree No. 20/2023/ND-CP (these decrees are currently in effect and are consistent with the provisions of the Law on Public Investment 2024).

Therefore, the Ministry of Finance recommends that the Government leaders approve the Project Proposal "Urban Railway Line No. 3, section from Hanoi Station to Hoang Mai" using loans from ADB, AFD and KfW of the Hanoi People's Committee and assign the Ministry of Finance to notify ADB, AFD and KfW about the approved Project Proposal and request to provide loans for the Project.

The Ministry of Finance proposes to assign the Hanoi People's Committee to base on the approval of the Prime Minister's Project Proposal, receive opinions from relevant agencies, coordinate with the Ministry of Finance to discuss and work with ADB, AFD, KfW and prepare a Pre-Feasibility Study Report for the above Project to submit to the competent authority to decide on the investment policy according to regulations.

The Hanoi urban railway project No. 3, Hanoi station - Hoang Mai section, is 8.7 km long and runs underground along the Tran Hung Dao - Tran Thanh Tong - Kim Nguu - Nguyen Tam Trinh corridor.

The twin tunnels run parallel, underground through the O Dong Mac intersection (Ring Road 1), Mai Dong (Ring Road 2) and end behind Ring Road 3 with 7 underground stations (Hang Bai, Tran Thanh Tong, Kim Nguu, Mai Dong, Tan Mai, Tam Trinh, Yen So), 1 train station (behind, next to Yen So Pumping Station).

According to the report of Hanoi People's Committee, Line 3 is the corridor connecting the western area with the city center and the southern area of the city, attracting 488,000 passengers/day in 2020.

After completion according to the Plan, it will connect the large residential areas of Hanoi, namely Tu Liem urban area, urban areas of Cau Giay, Ba Dinh, Dong Da, Hoan Kiem, Hai Ba Trung districts and the new urban area of Hoang Mai district, thereby basically solving the problem of large-volume public passenger transport in the central urban area to meet the requirements of socio-economic development of the capital, solving traffic congestion, ensuring traffic safety, and improving environmental pollution caused by traffic development in the center of Hanoi.

Source: https://baodautu.vn/de-xuat-duyet-du-an-tuyen-metro-so-3-doan-ga-ha-noi---hoang-mai-d279175.html