Vietnam will kick off the construction of its most modern North-South backbone railway in 2009 at a total cost of US$33 billion to support the country’s target to become an industrialized nation by 2020.
The government of Vietnam has allowed to work out a feasibility study and to select consulting agencies, Nguyen Huu Bang, chairman of directors’ board and general director of Vietnam Railway Corporation.
VRC as the project developer will carry out the 1,630-km double railway link with 1,435mm into three phases: 2007-2009 period, completion of the feasibility study and starting to build infrastructure; between 2010 and 2015, Hanoi-Hue section and Nha Trang-HCM City part will be constructed and after 2015, the Hue-Nha Trang section will be erected, Bang said.
VRC will use US$23 billion from ODA loans and call on other sectors to invest the remaining US$10 billion in facilities, Bang said.
Currently, South Korean consulting agencies have worked out the feasibility study for Hanoi-Vinh and HCMC-Nha Trang sections. However, they can not finance with usage of the TGV (train à grande vitesse, French for "high-speed train") is France's high-speed rail service.
Vietnamese Prime Minister authorized Planning and Investment Ministry to cooperate with Transport Ministry and VRC to negotiate with Japanese side to provide financial supports for hiring international consulting agencies. The Shinkansen High-Speed “Bullet Train” of Japan will be selected for the project.
Once operational, the double railway route will allow trains to travel at 300kmh, the VRC official said.
In a working session with the Transport Ministry, Deputy Prime Minister Hoang Trung Hai emphasized that the transport sector should tap BOT (build-operate-transfer) mode to pilot and develop transport works.
Vietnam needs about US$140 billion to develop its infrastructure networks from now till 2020, a VinaCapital Infrastructure Fund official said. (Vietnam Economic Times, VNA)
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