This information was announced by the Ho Chi Minh City Urban Railway Management Board (MAUR) in a document sent to the Ho Chi Minh City People's Committee, serving the preparation of a report to the National Assembly on the implementation of urban railway projects in the area.
According to MAUR, Metro Line 2 project was first approved by the Ho Chi Minh City People's Committee in October 2010 with a total investment of more than VND 26,116 billion (equivalent to USD 1.374 billion).
The project was then adjusted in November 2019 to VND47,890 billion (about $2.093 billion), most of which used ODA loans from three donors: the Asian Development Bank (ADB), the German Construction Bank (KfW) and the European Investment Bank (EIB).
On July 4, 2025, the Prime Minister issued a decision to stop using ODA capital and foreign preferential loans from KfW.
Ho Chi Minh City continues to coordinate with the Ministry of Finance and relevant ministries and branches to carry out the procedures for signing an agreement to amend Agreement No. 2 to be able to use part of the value of non-refundable aid capital in the loan signed with KfW; at the same time, stop using ODA capital, foreign preferential loans from ADB and EIB.
Previously, on March 6, 2025, the Standing Committee of the Ho Chi Minh City Party Committee approved the policy of transferring all project implementation capital from ODA loans to using the city budget.
Currently, Ho Chi Minh City is urgently implementing procedures to adjust the project in the form of public investment, applying a special mechanism approved by the National Assembly in Resolution No. 188/2025/QH15. The city aims to start construction of Metro Line 2 in 2025.
According to MAUR, Metro Line 2 has encountered new factors in terms of capital sources, scale, technology and implementation mechanisms during the implementation process, so it is necessary to adjust to ensure feasibility, synchronization and maximize investment efficiency in accordance with the current situation.
Along with the change in capital sources, MAUR said that the project will add connecting items between Metro Line 2 and Metro Line 1 (Ben Thanh - Suoi Tien) at Ben Thanh Station, as well as connecting with future metro lines. Tham Luong Depot will be adjusted to connect with Metro Line 6.
Metro No. 2 also has the additional urban transport orientation development (TOD) item at the Depot and stations, to effectively exploit land funds, create financial resources, promote the formation of new urban areas and enhance project value.
In addition, the project will update the technical standards system according to the latest Vietnamese and international standards and regulations; eliminate or replace outdated versions.
Metro No. 2 is also oriented to apply many modern technology solutions, such as integrating the Construction Information Model (BIM) in management and operation; upgrading the level of train automation (GoA) in accordance with each stage; synchronizing the ticket and payment card system (AFC) with the entire public transport network; upgrading signals, power supply and communication according to modern trends.
According to MAUR, converting investment forms from ODA loans to budget capital, along with exchange rate fluctuations, price slumps, changes in project scale and integration of urban development in the TOD direction will have a big impact on total investment. The city will update the cost structure to comply with the policy of changing capital sources, scale and scope of the project.
Metro No. 2 has a total length of more than 11 km, of which more than 9 km is underground, nearly 2 km is elevated, the transition section and the access road to the depot. The line includes 10 stations (9 underground stations, 1 elevated station) and 1 Tham Luong depot.
If construction is started on schedule by the end of 2025, Metro Line 2 is expected to be completed and put into operation in 2030.
When put into operation, Metro Line 2 will connect the city center with the Northwest region, reducing the load on major routes such as Cach Mang Thang Tam, Truong Chinh, Cong Hoa..., while creating momentum for urban development under the TOD model.
