Private firm proposes investment in HCM City's 47-km metro line
Sovico Group, a founding shareholder of budget airline Vietjet Air, has put forward a proposal to invest in Ho Chi Minh City’s metro line No 4, a 47km route linking Hoc Mon district to Nha Be district.
In its submission to the municipal People’s Committee, Sovico Group outlined plans to leverage its financial resources for research and investment in the metro line, connecting Dong Thạnh in Hoc Mon district with Hiep Phuoc Industrial Park in Nha Be district.
With assets exceeding VND187 trillion (over US$7 billion) and a workforce of more than 40,000 employees, Sovico Group is a key player across multiple industries, including finance, aviation, real estate, and technology. It is also a major shareholder in private lender HDBank.
Earlier, Vingroup has proposed an investment for another metro line that will connect district 7 to Can Gio district, measuring over 48.5km in length, utilising its corporate funds.
HCM City’s first metro line, which spans 19.7km from Ben Thanh Market in district 1 to Suoi Tien Theme Park in Thu Duc city, commenced operations on last December, marking a historic milestone in its development of urban transportation after 12 years of construction.
Vietnam’s largest city aims to develop 10 metro routes covering a total of over 510km by 2045.
Major corporations eye HCM City’s metro line projects
A series of major corporation have proposed to build urban railway lines in Ho Chi Minh City, helping the city complete a metro network of more than 500km in the next two decades.
