70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
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.
TAG:
Other news
20:05, 2023/09/13
KOICA launches new training program for Vietnamese journalists
The program is well designed and attached to new trends in South Korea and the world, which can be applied in Vietnam.
17:55, 2023/03/27
UK-funded CFA to support nine low-carbon projects in Vietnam
The CFA is part of the UK Government's efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow in 2021.
16:17, 2022/03/10
Hanoi’s latest proposal on Ring road No.4 project to save US$380 million
The project, estimated to be around VND87.1 trillion (US$3.81 billion), would be divided into seven sub-components and carried out under the combination of private-public partnership (PPP) and public investment mechanisms.
18:30, 2022/02/10
Construction of $120-million compostable resin factory kicks off in Hai Phong
The project, invested by An Phat Holdings, is considered the largest green materials factory in Southeast Asia.
16:51, 2022/02/06
Construction of Long Thanh International Airport must be accelerated: Prime Minister
With such sluggish construction progress, Long Thanh International Airport may not be able to become operational by 2025 as planned.
16:27, 2021/12/06
Samsung urged to speed up construction on R&D center
The South Korean investor considers Vietnam an important global production hub and a strategic destination in its research and development activities.