Mon, Sep 09, 2019, 07:55:00

A VND6.8 trillion ($296 million) underground shopping complex near the iconic Ben Thanh Market is scheduled to begin operations in 2021.
The complex will be next to Ben Thanh underground station, part of the city's upcoming 20-kilometer metro line number 1, Ben Thanh – Suoi Tien. It is scheduled to begin operations just as the line is completed.
The project is deployed in synchronization with the metro line construction so as to reduce the amount of digging work and to enable the line to operate smoothly without disturbance, managers said.
The Ben Thanh station is expected to be the midpoint of HCMC metro lines. The connection of the complex and the metro line will allow visitors to make use of both in the same underground space.
The project proposal was approved in 2016, which was also when HCMC authorities were examining the option to use official development assistance (ODA) loans to finance the project
Japan International Cooperation Agency estimated the station would cost VND8.4 trillion ($365 million), with 60 percent financed by Japans ODA loans and the rest by Japanese investors under a public private partnership.
Also in 2016, the municipal authorities proposed to the central government that a consortium of Japanese firms led by Toshin Development be allowed to invest in the project in May.
The prime minister will have the final say on the project following consultations with the ministries of planning and investment, construction and finance.
The underground project will be built on an area of 45,000 square meters, from the Ben Thanh station to the city’s Opera House. The commercial section will make up of 18,000 square meters, while the remaining space will be reserved for hallways and a public square.
