An Investment of VND 1.300 billion on Ha Noi's urban transport project Cat Linh- Ha Dong skytrain line

According to Railway Project Management Unit (Ministry of Transport), the fund needed for Cat Linh – Ha Dong elevated railway project worth more than VND 1.300 billion (USD 63 million).

Transport engineering construction and quality management bureau announced evaluation result of the estimated cost approval for sky train line project Cat Linh-Ha Dong is over $63 million, and based on valuation certificate of AASC Auditing Firm Company Limited.

Duong sat Do thi Cat Linh - Ha Dong

the fund needed for Cat Linh – Ha Dong elevated railway project worth more than USD 63 million

During the evaluation process, Transport engineering construction and quality management bureau has petitioned the Ministry of Transport to adjust therequirements for the train’s items, imported equipment of the EPC contract(Engineering, Procurement and Construction) onthe unit price approved by the Government.

In addition, the evaluation for the trains is based on the non-market price (not available in Vietnam), so the proposal to the Ministry of Transport for an approval based on the valuation of AASC.

An estimation of almost $4 million regarding insurance costs and transporting cost to the construction site, which approved by investors is in accordance with the current regulations according to the Department of Quality Management.

Earlier, the Rail Project Management Unit has proposed to the Ministry of Transport for an approval of train procurement for two scenarios. Option 1 is based on a comparative price, the price estimated by the General Contractor and assessed by Transport Engineering Design Inc. (TEDI). The estimated price for this option after the exchange rate correction would be US$63.2 million (package price and transporting trains to site).

Option 2 is based on the total investment value of US$51.7 million including the cost of procurement of US$47 million for the trains and the provision expense of US$4.7 million.

This is the first time Vietnam has performed the sky train line project and due to the complexity of estimation; so that Railway Project Management Board has not yet propose to the Ministry of Transport approving any options.

Urban railway line No. 3 Cat Linh - Ha Dong, 13.5 km in length designed as double track, 1.435 m in width, electrification, technical standards following the design of China, withstand an earthquake of level 8.

According to the plan, by the end of 2015, the project must be completed the basic infrastructure and train test, and fully operated in March 2016.

Source: http://vnexpress.net/