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Việt Nam, Dominican Republic issue Joint Statement
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| The Hà Nội People’s Committee has submitted a report to Prime Minister Nguyễn Xuân Phúc asking him to allow the Vingroup and T&T Group to compile investment dossiers on three of 10 urban railway projects planned from now until 2025.— Photo tienphong.vn |
HÀ NỘI — The Hà Nội People’s Committee has submitted a report to Prime Minister Nguyễn Xuân Phúc asking him to allow the Vingroup and T&T Group to compile investment dossiers on three of 10 urban railway projects planned from now until 2025.
In July, 2017, the committee announced a list of seven investors that have registered to implement urban railway projects in the capital city.
However, only Vingroup and T&T Group have submitted detailed implementation proposals.
Vingroup plans to invest in two routes, No 5, from Văn Cao to Hòa Lạc (38.4km) and No 2 from Trần Hưng Đạo Street to Thượng Đình (5.9km).
Meanwhile, the T&T Group has proposed that it takes charge of the No 4 route connecting Mê Linh, Sài Đồng and Liên Hà (54km).
All projects are to be implemented under the Build and Transfer (BT) investment model.
The two companies have guaranteed to raise capital for pre-feasibility studies, and to voluntarily hand over all records and research reports to the People’s Committee and other investors in case they are not chosen as the main investors.
If chosen as the main investors, Vingroup and T&T Group will include expenses incurred for the pre-feasibility studies into the overall project costs.
Based on the two groups’ proposals, the Hà Nội People’s Committee has noted in its report that they are investors with good financial and management capacity who have already implemented important projects.
Since the railway projects are of great national importance, they need approval from the Prime Minister and the National Assembly.
If the Prime Minister approves the capital city’s proposal, local authorities will ask the groups to hire experienced foreign consultants to do the pre-feasibility studies. As currently scheduled, these reports will be presented to the Prime Minister and National Assembly later this year for their decision.
Earlier, Deputy Prime Minister Trịnh Đình Dũng had directed the Hà Nội People’s Committee to call for investments into 10 Public-Private-Partnership urban railway projects. — VNS
