Becamex-Thaco consortium proposes $4.5 bln investment for two metro lines in Ho Chi Minh City

The consortium of Becamex IDC and Truong Hai Group (Thaco) has submitted a proposal to the Ho Chi Minh City People’s Committee to study the investment for two major rail projects: Metro Line 1 (Binh Duong New City – Suoi Tien section) and Metro Line 2 (Thu Dau Mot – HCMC section).

According to the proposal, the Binh Duong New City – Suoi Tien route will span approximately 32.4 km. It is planned to feature 19 elevated stations and one depot located in Binh Duong Ward (in the former province of Binh Duong, now part of Ho Chi Minh City). The total investment cost, excluding loan interest, is estimated at VND64.37 trillion (approx. $2.11 billion).

Meanwhile, the Thu Dau Mot – HCMC route is designed to be over 24 km long with 14 elevated stations. The consortium proposes that this line share a depot with Metro Line 1 in Binh Duong Ward or with Metro Line 3 in Hiep Binh Ward. This project has a projected investment of nearly VND60 trillion (approx. $2.3 billion).

The consortium noted that the city plans to prioritize resources to complete the Binh Duong New City – Suoi Tien line by 2030 and the Thu Dau Mot – HCMC line by 2035. These two urban railway lines hold significant potential, serving as vital links between the city center and the former province of Binh Duong, with Thu Dau Mot being once its capital, while completing the regional urban rail network.

Based on this vision, the consortium intends to conduct a comprehensive study and proposes implementing the projects under the Transit-Oriented Development (TOD) model via Public-Private Partnership (PPP). This approach aims to maximize the mobilization of private investment, reduce the burden on the state budget, and ensure financial feasibility and long-term operational efficiency.

The consortium aims to finalize all legal procedures within 2026 to ensure the projects are ready for groundbreaking in the first quarter of 2027, with the goal of beginning commercial operations by 2030.

Following the expansion of its administrative boundaries, Ho Chi Minh City’s planned urban railway network now comprises 27 lines with a total length of approximately 1,012 km. This includes 12 lines spanning 305 km in the former province of Binh Duong and 3 lines totaling 125 km in the former province of Ba Ria - Vung Tau (now part of Ho Chi Minh City).