A decision signed by Deputy Prime Minister Pham Binh Minh on Monday explained there would be an increase in the reciprocal capital put up by the city from $13.6 million to $20.6 million while the loan interest would be lower than first expected.
The loan, originally planned to be obtained from the International Bank for Reconstruction and Development, would now come from the World Bank’s International Development Association, it said.
The government has also extended the deadline for the project’s completion to December 2023 from the earlier December 2019.
The 23-km first BRT line will run along Vo Van Kiet and Mai Chi Tho boulevards through Districts Binh Chanh, Binh Tan, 6, 5, 1 and 2. It will start at the new Mien Tay (Western) bus station in Binh Chanh District and end at the Cat Lai Intersection in District 2.
It will have a depot in the Thu Thiem urban area in District 2, four stations, two transfer stations, 31 stops, and 30 buses running on compressed natural gas.
There will be interchanges with the proposed metro lines 1, 2, 3A, and 5. Five more lines are planned. BRT is considered a feasible option in HCMC because buses are fast, carry large numbers of passengers and have low costs.
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