The joint venture includes leading French companies, namely Alstom Transport S.A, Colas Rail S.A and Thales Communication & Security S.A.S.
The deal is worth VND7,667 billion (US$334.5 million), sourced from loans provided by the French Government. Construction of the railway section is scheduled for completion after 47 months.
The Hanoi urban metro project has a total length of 12.5km, including an 8.5-km elevated railway and a 4-km underground section. It is estimated to cost more than 1.17 billion EUR, earmarked for nine package deals.
Once operational, the railway is expected to ease traffic jams in the capital city.
