Two local conglomerates have expressed interest in conducting feasibility studies for three metro routes in Hanoi.
Earlier this month, real estate conglomerates Vingroup and T&T announced that they’re keen on undertaking the studies for three of Hanoi’s planned metro projects, reports VnExpress. Hanoi authorities have since submitted a proposal to relevant ministries and Vietnam Railways to seek permission to go ahead with the two feasibility studies.
Specifically, Vingroup wants to look into two metro lines: one spanning 38.4 kilometers (Van Cao – Hoa Lac) and another short 5.9-kilometer route (Tran Hung Dao – Thuong Dinh). T&T wishes to examine a 54-kilometer line (Me Linh – Sai Dong – Lien Ha).
According to the Hanoi People’s Committee, in 2016 the city presented upcoming urban railway projects, hoping to attract investors. Since then only Vingroup and T&T have put forth concrete plans for the future railways.
Both property giants said that they would carry out the studies with no strings attached and the city won’t need to repay the cost should Hanoi decide to go with another proposal. However, the resources each company spent on the studies will be calculated into the total costs of the metro lines if they’re eventually selected as the main investors.
In recent years, Vingroup has on occasions expressed desires to undertake more public infrastructure projects. In June of last year, at an investor conference in Hanoi, the conglomerate shared plans to channel some VND100 trillion into the capital’s metro projects. Back in 2016, it also suggested to Saigon’s municipal authorities that it would front VND526.7 billion to execute an upgrade to improve Nguyen Huu Canh Street’s flooding situation.
Founded in 1993, Hanoi-based T&T Group is a multi-industry investment firm that dabbles in real estate, finance, etc. It’s best known for being the sponsor of the football club Hanoi T&T.
[Photo via VnExpress]
