Hanoi’s first metro line gets $38M capital hike
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The Cat Linh – Ha Dong Metro Line in Hanoi has received an additional VND911 billion ($38.6 million) capital increase.
The money will come from state coffers, with 24.4% of it from domestic funds and the rest foreign funds, according to a decision signed by Deputy Prime Minister Le Minh Khai.
The Ministry of Planning and Investment and the Ministry of Finance are responsible for reporting the disbursement of this capital to the Prime Minister’s Office.
The 13-kilometer Cat Linh – Ha Dong Metro Line earlier saw its cost increase from VND8.77 trillion in 2008 to VND18 trillion in 2017.
It is one of five metro lines nationwide that has seen cost increases.
The Cat Linh – Ha Dong Metro Line started operating commercially at the end of last year and so far it has served 7.3 million passengers, among them 10,000 monthly subscribers.
The line has recorded a revenue of around $53 billion so far with a monthly growth of 20%.
Questions & Answers
Q.Where does the additional capital for the Cat Linh, Ha Dong Metro Line come from?
Where does the additional capital for the Cat Linh, Ha Dong Metro Line come from?
The additional VND911 billion will come from state coffers. Approximately 24.4% of this funding is from domestic sources, with the remainder being foreign funds.
Q.Which government bodies are responsible for reporting the use of this capital increase?
Which government bodies are responsible for reporting the use of this capital increase?
The Ministry of Planning and Investment and the Ministry of Finance are tasked with reporting the disbursement of this capital. They must report to the Prime Minister’s Office.
Q.What was the initial estimated cost of the Cat Linh, Ha Dong Metro Line, and how did it change?
What was the initial estimated cost of the Cat Linh, Ha Dong Metro Line, and how did it change?
The metro line's cost was initially estimated at VND8.77 trillion in 2008. By 2017, this figure had increased significantly to VND18 trillion.
Q.How many passengers has the metro line served since it began operating commercially?
How many passengers has the metro line served since it began operating commercially?
Since starting commercial operations late last year, the Cat Linh, Ha Dong Metro Line has served 7.3 million passengers. Among these, 10,000 are monthly subscribers.
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