240,000 billion VND to build 9 new railway lines and start the North – South expressway in 2028

According to the Ministry of Transport, 240,000 billion VND is needed to develop railway infrastructure in the next ten years. Notably, the Ministry will arrange resources to start the construction of the first two sections of the North-South high-speed railway by 2028 at the earliest.

The Ministry of Transport has just held a ceremony to announce the planned railway network for 2021-2030, with a vision of 2050.

Notably, in this plan, railways are identified as a specialty, playing an essential role in the transport infrastructure system and one of three strategic breakthroughs that need to be prioritized investment for socio-economic development in association with national defense and security assurance adaptation to climate change and sustainable development.

According to the Ministry of Transport calculations, the total capital demand by 2030 for railway infrastructure development is about VND 240 trillion, accounting for 13% of the industry, mobilized from the state budget, off-budget capital, and other lawful capital sources.

Minister of Transport Nguyen Van The said that Vietnam has a long coastline, railways running parallel to the coast.

To take advantage of this, North-South freight transport will give coastal shipping priority because it can transport large volumes of goods, super-long and super-heavy goods at low cost. Besides, upgrading the existing railway and investing in railway lines connecting large seaports to transport goods is necessary.

Regarding the North-South high-speed railway, the Minister said that the railway planning determines that from now to 2030, two priority sections will be implemented, namely Hanoi – Vinh and Nha Trang – Ho Chi Minh City.Therefore, the Ministry of Transport will actively advise the National Assembly to approve the investment policy in this term. The next time will focus on project planning, site clearance. The goal is to start some bidding packages in 2028 and 2029.

According to the plan, railways will connect internationally with China, Laos, and Cambodia, in which priority will be given to investing in railways connecting Lao Cai station with Ha Khau Bac station (China) to facilitate goods from Vietnam. South going straight to Europe will be invested in this period. Besides, investing in railways connecting seaports and airports.

The upcoming responsibility of the Ministry of Transport is to coordinate with other ministries, branches, and localities to continue developing plans to implement the master plan. In which, develop specialized technical planning, more detailed, more specific roadmap. At the same time, propose to the Government a mechanism to mobilize capital sources other than the state budget such as ODA, investors’ capital, and social capital to implement the plan.

Accordingly, by 2030, rail freight volume will reach 11.8 million tons, accounting for a market share of about 0.27%. Passenger transport volume reached 460 million passengers, accounting for about 4.40% of the market share, of which the national railway was 21.5 million passengers, accounting for about 1.87% market share.

Cargo volume reached 7.35 billion tons, accounting for about 1.38% market share; 13.8 billion passengers, accounting for about 3.55% market share, of which national railways with 8.54 billion passengers, accounting for about 2.22% market share.

(Source: Visualcapitalist)

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