Vietnam billionaire’s Vingroup proposes $4B metro line for Ho Chi Minh City

Vietnamese conglomerate Vingroup, owned by billionaire Pham Nhat Vuong, has proposed to build a $4 billion metro line linking District 7 with Can Gio District in Ho Chi Minh City, boosting the city’s transportation infrastructure.

According to documents submitted to the HCMC People’s Committee and the Department of Transport, the proposed metro would stretch over 48.5 kilometers, running from Nguyen Van Linh Avenue in bustling District 7 to the coastal district of Can Gio, renowned for its tourism potential and lush mangrove forests.

The project includes two depots, one in District 7 and another in Can Gio. Once operational, the metro line is expected to handle up to 40,000 passengers per hour in each direction.

The total cost of the project is estimated at around VND102.37 trillion ($4.09 billion).

Vingroup intends to finance the metro through a public-private partnership (PPP) and a build-own-operate (BOO) model, leveraging its own capital alongside other funding sources.

Preparatory work, including the pre-feasibility study and urban planning integration, is expected to begin this year. Construction could commence in 2026, with trial operations expected by 2028.

Can Gio District, approximately 50 kilometers from downtown HCMC, features over 71,300 hectares of land, including expansive mangrove forests, rivers and beaches along its 23-kilometer coastline. The metro project aligns with the city’s vision to transform Can Gio into a premier tourism hub.

HCMC is targeting the completion of seven metro lines totaling 355 km by 2035, with plans for three additional lines by 2045. The total projected investment for these 10 lines is approximately $67 billion.

By Gia Minh – VnExpress.net – March 20, 2025