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HCM City signs transport deals

HCM CITY, Mar 29, 2011. Agreements for investment and development of monorail lines No. 2 and 3 and metro line No. 4 were signed on Saturday between the management board of the HCM City Urban Railway and the Italian-Thai Development Public Co. Ltd. (ITD).

ITD proposed a feability study and applied for permission to invest in the BOT (Build-Operate-Transfer) form for the monorail lines No.2 and 3, and to use ODA loans or EPC (Engineering-Procurement-Construction) investment form for the metro line No. 4, according to Nguyen Luong Do, head of the Urban Railway management board.

Do said capital for these projects, estimated at US$ 4.55 billion, would be mobilised from Standard Chartered Bank.

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