6:54:35 PM | 24/4/2006
The Vietnam Railway Corp (VRC) will spend VND6.3 trillion (US$396.22 million) from Japanese loans to upgrade the Hanoi-Haiphong railway route to boost the transport capacity of the sector and link key ports and industrial zones in the northern Vietnam, state media reported.
Under the project, VRC as the project investor will also build and equip the Yen Vien-Gia Lam and Cao Xa-Tien Trung double railway sections and electrify Lac Dao-Haiphong and Gia Lam-North Yen Vien rail sections in consultation of Japanese industry experts.
Of the total investment, VRC will extract a part to build 12.75-km new railway section linking Chua Ve and the factory in Haiphong City’s Dinh Vu Industrial Zone with total cost of US$100-200 million to ensure sufficient supply of apatite ores for the factory, VRC officials said.
Along with Japan’s ODA, South Korea is also considering providing low-interest rate loans for Vietnam to carry out the project to upgrade and ensure safety of the Hanoi-Haiphong railway route in the next three years.
Vietnam & World Economy
Vietnamese
