The municipal People Committee's Vice Chairman Le Quang Nam on Wednesday signed a decision allowing Dai Quang Minh Real Estate JSC, part of Thaco’s ecosystem, to prepare a project proposal for the metro line.

The company is authorized to conduct surveys and prepare pre-feasibility and feasibility studies in line with regulations, as well as submit an investment proposal. It will bear all costs and risks if the project is not approved, with a deadline for submission set for before October 2026.

The city’s construction department has been assigned as the focal point to receive project documents, while relevant agencies are required to provide data and coordinate with the investor to ensure feasibility, particularly in operation, maintenance and commercial plans.

The proposed railway would stretch more than 103 km, linking Danang International Airport with Hoi An, Tam Ky and Chu Lai Airport.

Phase one would cover 30.2 km with 14 stations connecting Danang airport to Hoi An - home to the ancient town of Hoi An, while phase two would extend 73.6 km with 10 stations from Hoi An to Chu Lai airport.

Total investment is estimated at over VND265.97 trillion ($10.1 billion).

At a recent meeting with city authorities, Thaco chairman Tran Ba Duong said the company aims to begin construction in February 2027 and launch the first metro line by 2032, subject to approvals and investor selection.

He said Thaco’s experience with an urban railway project in Ho Chi Minh City would enable it to move quickly once formally selected.

Danang Chairman Nguyen Manh Hung urged the company to proactively prepare for implementation, accelerate procedures and promptly report any issues for resolution to keep the project on schedule.