Spain has signed a cooperative agreement with Urban Railway Management in Ho Chi Minh City in Vietnam to implement the first phase of metro line No 5.
The $1.85bn metro project will be implemented under an engineering, procurement and construction contract.
The first phase of the project, from Bay Hien crossroads to Sai Gon Bridge, will cost €500m ($635.65m) and will be funded by the Spanish Government.
The construction will start from 30 April next year.
The Spanish Government is also looking for additional investments along with the Asian Development Bank for the second phase of the project, running from Bay Hien crossroads to Can Giuoc bus station.
