Home / Investment / On-going projects
Hyundai Group interested in investing in Vietnam's colossal express railway
Ha An 15:04, 2019/05/31
The total investment of the project is estimated at nearly US$58.7 billion, of which, state budgets will cover at least 80 percent and the remaining will be raised from the private sector under the PPP model.
South Korea multinational conglomerate Hyundai has expressed its interest in joining into the North-South bullet train project by providing comprehensive solutions from planning, capital mobilization, construction to operation and maintenance, VnExpress reported, citing a senior executive.
 
Express railway: Illustrative photo
Express railway: Illustrative photo
At a meeting with the representatives of Vietnam’s Ministry of Transport in Hanoi on May 30, Vice Chairman of Hyundai Engineering & Construction Chung Jin Hae said that the group wanted to cooperate, invest and share its experience in the North-South expressway and high-speed railway.
Hyundai accomplished three bullet train projects overseas, six projects in South Korea and nine underground urban railways, therefore, the group can also support Vietnam in technologies, equipment as well as training, the executive boasted.
Hyundai proposed some ways to mobilize capital for the public-private partnership (PPP) project such as guarantees from the two governments to involve more financial investors, minimum return guarantee policy and Vietnamese government’s active role in land clearance and working out favorable policies for investors.
According to the pre-feasibility report, the North-South high-speed railway project will be executed into two phases, one from 2020 to 2030 and the other from 2030 to 2045.
The total investment of the project is estimated at nearly US$58.7 billion, of which, state budgets will cover at least 80 percent and the remaining will be raised from the private sector under the PPP model.
The line that links Hanoi to Ho Chi Minh City is 1,545 kilometers (km) in length and has 20 stops across some cities and provinces. It is expected to reduce travel time between the two cities to under six hours by rail.
Other news
12:47, 2021/47/25
Vietnam Airlines to invest US$430 million in Long Thanh Airport
The airport, located 40km east of Ho Chi Minh City, plays a vital role in socio- economic development and national defence and security.
17:15, 2021/15/24
GE partners with Vietnamese investor to develop wind farm project
The partnership between the two companies would partly contribute to the country’s energy transition.
16:21, 2021/21/22
EVN gets nod to build US$2.1 billion thermal power plant in central Vietnam
It is one of the national key projects in the energy sector.
08:16, 2021/16/19
Thai group purchases 70% stake in Vietnamese plastics manufacturer
SCGP joins hands with partners to expand packaging businesses to cope with growing demands in Vietnam.
21:55, 2021/55/08
Vinamilk and its partner establish US$6-million beverages joint venture in the Philippines
The Vietnamese dairy giant continues expanding its business scale into foreign markets.
16:16, 2021/16/28
Intel invests additional US$475 million in Vietnam
The US corporation continues to expand its scale in Vietnam.