HCMC metro project USD800m over budget

HCMC metro project USD800m over budget

The troubled second metro line project in Ho Chi Minh City (HCMC) City has continued to go over budget and time with authorities now having requested a further USD800m cash from the government to complete the project.

Work on the 11km underground line began in 2010 and was scheduled to finish in 2020 at a cost of USD1.2bn.  However, delays and budget issues, related to payment issues and subsequent interest, now mean the project will not likely be complete until 2024 on a budget of USD2.4bn. 

This setback follows issues on the Chinese-funded urban highway in Hanoi and many international experts have blamed the delays and cost increases on Vietnam’s inexperience in building major infrastructure projects.

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