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Wednesday, June 19, 2024

Two railway projects worth VND90 trillion proposed

The Saigon Times

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HCMC – The Vietnam Railway Authority (VNRA) has submitted a plan to the Transport Ministry, seeking foreign investment for two railway projects. One project links to the Lach Huyen port in Haiphong and the other connects with the Cai Mep-Thi Vai port in Ba Ria-Vung Tau Province, with a total investment of nearly VND90 trillion, or nearly US$4 billion.

Duong Hong Anh, deputy head of VNRA, said on November 23 that the railroad leading to the Lach Huyen port will start at the Du Nghia station of the Hanoi-Haiphong railroad and end at the Tien Cang station. It requires around VND32.6 trillion in investment, with a payback period of 25 years and a loan repayment period of 30 years.

As for the 84-kilometer-long Bien Hoa-Vung Tau railroad, it will run parallel with National Highway 51 to the Cai Mep-Thi Vai and Ben Dinh-Sao Mai ports. The project’s capital is estimated at some VND56.8 trillion, with a payback period of 19 years and a loan repayment period of 30 years.

VNRA proposed calling for foreign investment for these two projects under the form of project financing or joint venture or capital contribution among others. The Bien Hoa-Vung Tau railway project, however, was already added to a list of projects whose investment will be implemented under the build-operate-transfer format.

According to Vietnam’s railway zoning plan for the 2021-2030 period with a vision toward 2050, the country, before 2030,  will have the 102-kilometer Hanoi-Haiphong railroad running in parallel with an expressway and connecting the Haiphong International Container Terminal with the port areas of Dinh Vu, southern Do Son and Lach Huyen. In the south, there will be the Bien Hoa-Vung Tau railroad running from the Trang Bom station to the Vung Tau station.

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