Vietnam Railway Corp Invests US$1.76B to Improve Transport Capacity
Railway Project Management Unit (RPMU) under the Vietnam Railway Corporation said that it is investing VND30 trillion (US$1.76 million) to improve the railway transport capacity, RPUM director Tran Van Luc said.
Luc said the investment will be poured into nine projects, with upgrade of Hanoi-Lao Cai railway route worth VND2.5 trillion being the biggest.
Construction on the route will be kicked off by the end of this year and is scheduled for completion in 2012.
Once operational, the route is capable of transporting five million passengers and 7.5 million tons of cargo annually.
He added that the RPUM is preparing for Long Bien Bridge’s upgrade valued at over VND3 trillion which is mobilized from ODA loans from the French government and European Investment Bank.
Due to bad impacts by the global economic slow down, Vietnam’s cargo transport by railway saw the fall of 28.1 per cent on-year in the first three months of this year, state media said.
Under a development strategy for the railway sector toward 2020, approved by the prime minister, Vietnam will accelerate railway development to meet at least 13 per cent of passenger transport demand and 14 per cent of cargo transport. (News, New Hanoi)
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