Hanoi is preparing a huge metro expansion that will cost almost $34 billion. The plan covers five lines, 253 km of track, and will be built between 2026 and 2030, offering a clear example of how a city can finance large infrastructure while keeping costs under control.

Chairman of the municipal People’s Committee Vu Dai Thang said the five lines – Metro 1, 2, 8, 10 and 14 – will be developed at the same time under a special implementation mechanism. This simultaneous approach is meant to meet strict cost controls and to finish the network by 2030.

The city has set an absolute ceiling of $120 million per kilometre for underground sections, and the contract does not allow any price escalation. This $120 million cap is lower than the average costs reported for comparable projects in Ho Chi Minh City, Guangzhou, Shanghai and Mumbai.

Financing will be diversified. Hanoi will draw on its own budget, receive support from the central government, obtain official development assistance loans, issue bonds, and earn revenue from transit‑oriented development around the new stations.

By combining a strict underground cost ceiling with a mixed financing package, Hanoi hopes to keep the metro project affordable while still delivering the network on schedule. The plan shows how careful budgeting and varied revenue sources can support massive urban transport projects.