The Saigon Times

Commuters disembark from a bus in HCMC. Deputy Prime Minister Pham Binh Minh has signed a decision revising down the investment cost of HCMC’s first BRT project – PHOTO: LE ANH

HCMC – Deputy Prime Minister Pham Binh Minh has signed a decision trimming the investment cost of HCMC’s first bus rapid transit (BRT) project from some US$156 million to over US$143 million.

Accordingly, the loan for the project would come from the World Bank’s International Development Association (IDA) instead of the International Bank for Reconstruction and Development, helping cut the interest on the loan during the period of construction.

The loan sourced from IDA would be over US$123 million, while the reciprocal capital from the city’s budget for the project would stand at over US$20 million. The project’s completion time was extended to December 2023, Thanh Nien Online reported.

Besides, the Government asked the HCMC government to complete procedures for revising down the investment capital of the project and ensure the project is on schedule.

As planned, the city would have six BRT lines, with the first set to run along Vo Van Kiet and Mai Chi Tho roads and run through districts 1, 2, 5, 6, Binh Chanh and Binh Tan.

The 23-kilometer BRT route will start at Mien Tay Coach Station and end at Cat Lai Intersection in District 2, and have one depot, four terminals, two transshipment stations, 31 stops and 30 buses running on compressed natural gas.

Once in place, the BRT line is expected to improve the efficiency of the public passenger transport system and ease traffic jams in the city.