Government sticks to express railway project

The government has reiterated its intention to press ahead with a controversial big-ticket project to build the country’s first express railway linking the two biggest cities, Hanoi and HCM City.

“Vietnam cannot help having a second north-south (express) railway besides the existing one,” minister of Transport Ho Nghia Dung told reporters in Hanoi after news reports said the project had resumed though the National Assembly disapproved of it two months ago. Dung said the project should start with the reservation of land for a dozen years later but when the government would forward the project to the legislature for approval remained unknown because it would take years to collect as sufficient data as needed. Local media has reported that the ministry was considering developing the first two sections of the cross-country railway, with one connecting Hanoi and Vinh and the other linking HCM City and Nha Trang, instead of the whole line worth around $S6 billion as originally proposed.

The government approved in principle a proposal on July 23 to allow the ministry and the Vietnam Railways Corporation to get technical assistance and grants from the Japanese government to conduct a feasibility study for the two sections and another for a rail line between Hanoi and Noi Bai International Airport. “This is a feasibility study and it will take three to four years to finish before it goes before the National Assembly,” said the transport minister.

He stressed that the government had found it necessary to study the project to make clear the points questioned by National Assembly deputies during their meeting in Hanoi in June, including scale, time frame, efficiency and financial viability. – Saigon Times

Tags:

Posted by VBN on Sep 15 2010. Filed under Infrastructure. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

You must be logged in to post a comment Login

Stay informed everyday

Subscribe to free RSS and email updates from Vietnam Business News

Subscribe via Email Subscribe in a Reader Follow us on Twitter Connect on Facebook

RSS Singapore Business News

  • Home sales unlikely to surpass 2010 record
  • Trivelis oversubscribed by 3 times
  • Parc Vera condo sees healthy take-up
  • Singapore shares end down 2.3%
  • MF Global S’pore appoints KPMG as provisional liquidators
  • Petrobras woos Singapore firms

RSS India Business News

  • Sensex ends flat; RIL, R-Com, R-Infra, R-Power gains
  • Sensex ends marginally lower on weak European cues
  • Gold edges higher on global leads, rupee weighs
  • Pakistan grants India Most Favoured Nation trade status
  • Indian trade negotiators ramp up currency pressure on China
  • Exports up 36 per cent in September while imports grew 17 per cent

RSS Malaysia Business News

  • KL bourse sharply lower on profit-taking
  • Ringgit eases against US dollar
  • CPO futures finish broadly lower
  • NEC aims for top 3 spot
  • PayPal global ops centre in PJ
  • Asian equities fall after Greek PM’s shock move

Sponsored

  • Looking for an overseas forex broker?
  • Trading Point now offering Forex Malaysia and FX Japan with Forex, CFD's and Futures.