3:56:29 PM | 11/11/2008
A joint venture between the Vietnamese firm-the Investment Consultancy Construction & Transportation Joint Stock Co-and the South Korean Dongrim-Hyewonkaci has proposed to develop a 33.5 kilometer railway route of 1.435 meters of width costing US$1.2 billion in the capital city of Hanoi, according to Vietnam Economic Times.
Dongrim-Hyewonkaci and the Vietnamese firm will carry out the project linking Nam Tay Ho, Ngoc Khanh, Lang and Hoa Lac under the BOT (build-operate-transfer) mode into two phases within a 50-year duration ending 2043.
The joint venture will invest US$574 million to construct 11.3 km and 22 stations in the first stage and inject US$653 million to build the remaining section. The railway is expected to be operational in 2017.
Vu Xuan Hong, head of the Vietnam Railway Administration, said the project is the most feasible among railway projects in Hanoi and the government of Vietnam plans to invest US$15 billion into railway projects in Hanoi and Ho Chi Minh City from now to 2020.
Of the fund, US$7.345 billion will be used to build elevated railways, metro and sections of the national railway links in Hanoi, including US$5.542 billion pledged by foreign investors through agreements, commitments and US$1.803 billion by local investors, Hong said. (Vietnam Economic Times)
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