HCMC signs monorail and subway deals
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Authorities in Ho Chi Minh City (HCMC) have signed a memorandum of understanding (MoU) for the construction of two monorails and a subway line in the city. Thanh Nien News reported that the deal, penned with the Italian-Thai Development Company (ITD), will see an investment of more than US$3 billion to develop two single-track monorail lines, stretching a total of 22.5km, as well as a 24km metro line. Construction is expected to begin next year. The city is planning to develop an urban transport network consisting of six metro lines and three monorails by 2020, in an effort to battle traffic congestion.
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