Hanoi collaborates with China Pacific Construction Group for the $2.7bn Metro Line 5 project, spanning nearly 39km from the city center to the western suburbs. The agreement, signed after a meeting between CPCG's chairman and Vietnam's prime minister, accelerates the project into a single-phase construction, commencing before 2026. Funding sources include public funds, equity ventures, land auctions, bonds, and loans. With 21 stations and two depots, the completed line will contribute to Hanoi's metro expansion plan, aiming for 10 lines covering 420km.
*Hanoi's Ambitious Metro Leap:*
In a strategic move to propel Hanoi's metro expansion, the municipal transport department joins forces with China Pacific Construction Group (CPCG) and Vietnam Construction Import–Export Corporation. This collaboration sets the stage for the realization of Metro Line 5, a transformative $2.7bn project stretching nearly 39km, connecting the heart of the city to its western suburbs.
*Accelerated Construction Vision:*
Originally approved in 2011 and planned in two phases, Metro Line 5 faced delays, prompting a shift to a single-phase construction starting before 2026. The memorandum of cooperation signifies a determined effort to expedite the project, addressing the growing transportation needs of Hanoi's burgeoning population.
The financial framework for this ambitious endeavor involves a multi-faceted approach. The Hanoi People’s Committee plans to secure approximately $630m from public sources, $465m from equity and capital divestment ventures, $630m through land auctions, $420m from bonds, and $290m from loans. This diverse funding strategy reflects a commitment to realizing Hanoi's metro ambitions.
Metro Line 5's design encompasses 6.5km underground, 2km elevated, and 30km at ground level, featuring 21 stations and two depots. This comprehensive layout ensures the integration of key city areas, providing efficient and accessible transportation options for residents.
*Hanoi's Metro Aspirations:*
Hanoi's present metro infrastructure comprises only one operational line, constructed by China Railway Sixth Group. The collaboration with CPCG signals an ambitious future, envisioning a metro network comprising 10 lines covering nearly 420km, including extensive underground segments totaling 75km.
*China Pacific Construction Group's Expertise:*
China Pacific Construction Group, a prominent private contractor specializing in transport projects, brings its extensive expertise to Hanoi's metro development. With a global ranking among the top 100 companies and a focus on transport infrastructure, CPCG's involvement marks a significant milestone in the project's journey.
*Global Construction Impact:*
The collaboration between Hanoi and CPCG extends beyond local implications, resonating globally as a testament to international partnerships in advancing sustainable and efficient transportation infrastructure.
Hanoi's collaboration with China Pacific Construction Group for Metro Line 5 not only accelerates the city's metro expansion plans but also reflects a strategic international partnership. The financial ingenuity, coupled with the vast expertise of CPCG, sets the stage for Hanoi's ambitious leap toward a comprehensive and efficient metro network, reshaping the city's transportation landscape for the future.