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Express railway to provide important north-south link

Update: August, 26/2007 - 00:00

Express railway to provide important north-south link

(27-08-2007)

Nguyen Huu Bang of Viet Nam Railway Corporation spoke to Thoi bao Kinh Te Viet Nam (Vietnam Economic Times) about obstacles facing the North-South Express Railway Project.

Could you reveal the progress of the North-South Express Railway Project thus far?

The project of the North-South Express Railway is one of the strategic projects of Viet Nam’s railway sector. The Vietnamese government has permitted to set up an investment report and select consultant institutions.

The project will be divided into 3 phases of building 1,630km of double railway.

In the first phase, from 2007 to 2009, investment reports will be mapped out and approved.

In the second phase, from 2010 to 2015, construction of the section of railway between Ha Noi-Hue and Nha Trang-HCM City section will begin.

The section of railway between Hue-Nha Trang will be carried out in the third phase after 2015.

The project’s capital investment is estimated to be about US$33 billion. How much of counterpart capital is contributed by Viet Nam? How will the capital be mobilised?

The investment capital of $33 billion is really big and a difficulty to the project. Included in the total capital, $23 billion that is invested in infrastructure is an official development assistance (ODA) preferential loan.

The Viet Nam Railway Corporation and other businesses will invest $10 billion into means of conveyance.

At present, Japan and South Korea take part in the project’s study and investigation. How is the co-operation between the partners?

The South Korean consultants have mapped out a feasibility study for 2 sections of Ha Noi-Vinh City and HCM City-Nha Trang. But financial funding from South Korea is impossible.

At present, the Ministry of Planning and Investment in co-ordination with the Ministry of Transport and Viet Nam Railway Corporation has been working with the Japanese partner seeking financial assistance to hire international well-qualified consultants to draw up investment reports. The project will use the Japanese Shikansen technology.

While drafting the investment reports, the corporation will use the results of research