In a significant stride towards enhancing urban mobility, VinSpeed has announced a groundbreaking VND76 trillion (US$2.93 billion) project aimed at revolutionizing the transportation landscape in Ho Chi Minh City. The financing structure reveals that 15% of the capital will come from its own resources, while a substantial 85% will be sourced through loans, as discussed in a recent conference focused on green transportation.
To pave the way for this ambitious endeavor, land clearance costs, estimated at over VND7.6 trillion (approximately $288 million), will be borne by government funds. It’s perhaps the ultimate local government investment: an invitation for residents to wave goodbye to gridlock!
The proposed rapid transit line is designed to operate at speeds three times faster than the current Ben Thanh – Suoi Tien metro service. “Choosing a high-speed option from the outset simplifies the process,” noted Nguyen Anh Tuan, CEO of VinSpeed. He further explained that the actual operational pace might be adjusted based on passenger needs, allowing for flexibility in service design.
Construction is slated to kick off in the last quarter of this year, with the aim of completing it by early 2028. “This timeline is ambitious, setting a record for a metro line, but we are fully confident in our ability to meet it,” Tuan remarked, setting the stage for what could be a transformative shift in public transport.
Given Vietnam’s relatively nascent experience with such large-scale projects, VinSpeed has embraced a strategic approach—studying international models and conducting comprehensive geological and topographical assessments along the proposed route. Experts attending the seminar lauded the project’s ambition, suggesting it could redefine metro and railway development standards in Vietnam.
Not all feedback was unreservedly positive; experts voiced concerns regarding the high operational speed of 350 kph. Truong Tien Trien, deputy head of HCMC’s Urban Development Management Board, cautioned that such speed might prevent passengers from savoring Can Gio’s stunning natural vistas. “We must be cautious,” he urged.
Adding another layer to the discussion, Tran Du Lich, head of HCMC’s metro network development advisory group, underscored the need for environmental protection, particularly concerning the Can Gio International Biosphere Reserve. “Even if the route is curved, it should avoid impacting this unique ecosystem,” he asserted.
Phan Huu Duy Quoc, chairman of Construction Corporation No. 1, which previously contributed to the Ben Thanh – Suoi Tien metro, suggested optimizing service roads and construction sites to minimize environmental footprints. On the river-crossing segment, he proposed exploring an underground tunnel instead of constructing a new bridge, drawing on lessons learned from the existing metro line.
Can Gio, located approximately 50 km from central Ho Chi Minh City, spans over 71,300 hectares, with a remarkable 70% of its area consisting of mangrove forests and intricate waterways. The burgeoning metro network in HCMC, with a grand plan featuring 11 lines and a target of completing seven lines totaling 355 km by 2035, is poised to reshape how residents navigate their city. Notably, Metro Line 2 (Ben Thanh – Tham Luong) is also set to begin construction this year, heralding a new era for public transport in the area.
What is the overall budget for the Can Gio metro project?
The project is projected to cost VND76 trillion (approximately US$2.93 billion), primarily funded through loans.
When is the construction of the metro expected to start and be completed?
Construction is set to begin in the last quarter of this year, with completion aimed for early 2028.
What are the environmental concerns related to the proposal?
Experts highlighted the importance of avoiding impacts on the Can Gio International Biosphere Reserve, emphasizing the need for careful planning and evaluation of environmental effects as the project develops.
