Hanoi plans to start work on metro line 2 next year

By Quang Tuyen, Hai Yen
Tue, December 17, 2024 | 9:15 pm GMT+7

Hanoi is set to start the construction of a section of its metro line 2 next year at a cost of VND35.58 trillion ($1.45 billion).

According to an adjusted investment plan approved by Deputy Prime Minister Bui Thanh Son, the metro section spans 11.5 kilometers, running from the Nam Thang Long urban area (Tay Ho district) to Tran Hung Dao street (Hoan Kiem district).

The line will feature 8.9 kilometers of underground tracks and 2.6 kilometers of elevated tracks, including seven underground stations and three elevated stations.

The Nhon-Hanoi station metro line in Hanoi. Photo by The Investor/Trong Hieu.

The Nhon-Hanoi station metro line in Hanoi. Photo by The Investor/Trong Hieu.

The project will deploy 10 four-car trains and include a depot spanning 17.5 hectares in Xuan Dinh ward, Bac Tu Liem district.

Of the total investment, $1.2 billion will come from official development assistance (ODA) loans provided by the Japan International Cooperation Agency (JICA) under the Special Terms for Economic Partnership (STEP), while $250 million will be sourced from the municipal budget.

The Nam Thang Long-Tran Hung Dao section is part of the metro line 2, which also comprises the Tran Hung Dao-Thuong Dinh and Noi Bai-Nam Thang Long sections.

The entire metro line 2 is designed to serve as a vital backbone connecting downtown Hanoi with Noi Bai International Airport and the northern districts.

Currently, Hanoi already has two metro lines in operation: The 13 km Cat Linh-Yen Nghia and the phase-one 8.5 km Nhon-Hanoi station, which began service in November 2021 and August 2024, respectively. Hanoi aims to complete 97 km of metro lines by 2030 and 200 km by 2045.

Comments (0)
  • Read More
Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com

Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com

Booking.com, the world's leading digital travel company, has suggested some destinations in Vietnam for those seeking spiritual enrichment and a chance for reflection and connection, including Ba Den mountain and Bai Dinh pagoda.

Travel - Sun, February 16, 2025 | 10:59 am GMT+7

Malaysia takes the lead in data center development

Malaysia takes the lead in data center development

Malaysia is making efforts to align with the global trend towards digitalization, which is driving demand for data centers, cloud computing, blockchain, and artificial intelligence (AI).

Southeast Asia - Sun, February 16, 2025 | 10:57 am GMT+7

WB sees Thai fiscal risks mounting due to spending surge

WB sees Thai fiscal risks mounting due to spending surge

Thailand’s pursuit of an expansionary fiscal policy strategy to propel growth faces the risk of rising costs for elderly care, investment and the need to keep public debt level to sustainable levels, according to the World Bank.

Southeast Asia - Sun, February 16, 2025 | 10:41 am GMT+7

Vietnam mining stocks rally amid global trade tension

Vietnam mining stocks rally amid global trade tension

Shares of Vietnam’s mining companies have rallied since early this month, fueled by heightened global trade tensions following the start of Donald Trump’s second term as the U.S. president.

Finance - Sun, February 16, 2025 | 10:36 am GMT+7

Online purchase below VND2 mln may be exempt from Vietnam import tax

Online purchase below VND2 mln may be exempt from Vietnam import tax

The Vietnamese Ministry of Finance has proposed exempting goods purchased through e-commerce platforms worth no more than VND2 million ($78) from import tariff, with an annual purchase limit of VND96 million ($3,781).

Finance - Sun, February 16, 2025 | 8:00 am GMT+7

Malaysia expected to remain magnet for FDI

Malaysia expected to remain magnet for FDI

Malaysia’s foreign direct investment (FDI) is expected to remain robust in the long term, but there could be repercussions in the short term as investors hold back on their investment decisions amid heightened global uncertainties.

Southeast Asia - Sat, February 15, 2025 | 9:01 pm GMT+7

Laos to build $1.9 bln wind power plant to export electricity to Vietnam

Laos to build $1.9 bln wind power plant to export electricity to Vietnam

The Lao Government and Chitchareune Construction - a Lao builder will jointly build the 1,200 MW Nong wind power plant, with an investment of $1.9 billion, to export electricity to Vietnam.

Energy - Sat, February 15, 2025 | 8:46 pm GMT+7

Malaysia needs more funding for semiconductor sector

Malaysia needs more funding for semiconductor sector

Malaysia needs more funding for the implementation of the National Semiconductor Strategy (NSS) to enhance its competitiveness with neighboring countries, said Penang Chief Minister Chow Kon Yeow.

Southeast Asia - Sat, February 15, 2025 | 4:31 pm GMT+7

Thailand considers easing rules on income from overseas

Thailand considers easing rules on income from overseas

Thailand’s government is considering easing personal income tax rules for individuals’ overseas income to encourage the remittance of those funds back into the country, said a senior official.

Southeast Asia - Sat, February 15, 2025 | 4:29 pm GMT+7

Nissan to close factory in Thailand

Nissan to close factory in Thailand

Japanese automaker Nissan has announced plans to close one of its two automobile factories in Thailand this year, following the collapse of merger talks with Honda.

Southeast Asia - Sat, February 15, 2025 | 4:10 pm GMT+7

Vietcombank leads Vietnamese banks in 2024 pre-tax profit

Vietcombank leads Vietnamese banks in 2024 pre-tax profit

Vietcombank reported a pre-tax profit of VND42.2 trillion ($1.66 billion) last year, ranking as the most profitable Vietnamese lender, according to the Vietnam Banking Association (VNBA).

Banking - Sat, February 15, 2025 | 4:04 pm GMT+7

Vietnam's leading trade firm Hapro appoints new general director

Vietnam's leading trade firm Hapro appoints new general director

Hanoi Trade Corporation (Hapro), a leading producer and exporter of agricultural produces in Vietnam, has appointed deputy general director Duong Thi Lam as general director, effective from March 1, 2025.

Companies - Sat, February 15, 2025 | 2:18 pm GMT+7

Private Vietnamese lender DongA Bank renamed Vikki Bank

Private Vietnamese lender DongA Bank renamed Vikki Bank

DongA Bank, a private lender in Vietnam, has changed its name to Vikki Bank, with approval from the State Bank of Vietnam (SBV).

Banking - Sat, February 15, 2025 | 10:59 am GMT+7

Korea's SK Group seeks partnerships in LNG-fired power projects in Vietnam

Korea's SK Group seeks partnerships in LNG-fired power projects in Vietnam

South Korean chaebol SK Group seeks to jointly build LNG-fired power plants in Vietnam and then develop facilities utilizing electricity generated by those power plants.

Energy - Sat, February 15, 2025 | 9:26 am GMT+7

World’s largest shipping line MSC docks at southern Vietnam port

World’s largest shipping line MSC docks at southern Vietnam port

Phuoc An Port, the largest seaport in Dong Nai province, on Thursday welcomed the first ship from MSC, the world’s largest shipping line, opening up significant opportunities for boosting international trade in Vietnam’s southern region.

Economy - Sat, February 15, 2025 | 8:17 am GMT+7

Vietnamese chemical-pharmaceutical industry eyes yearly growth of 8-11% by 2045

Vietnamese chemical-pharmaceutical industry eyes yearly growth of 8-11% by 2045

Vietnam's chemical-pharmaceutical industry is expected to achieve an annual growth rate of 8-11% by 2045, according to a newly-approved program on the industry’s development until 2030, with a vision to 2045.

Southeast Asia - Fri, February 14, 2025 | 11:28 pm GMT+7