Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy
China’s major corporations express interest in Vietnam’s large-scale railway projects
Ngoc Mai 16:23, 2023/09/17
Cooperation in infrastructure projects that link Vietnam and China, including high-speed railways, holds a solid political foundation rooted in the relationship between the two nations.

Leaders of China Railway Group (CREC) and Power Construction Corporation of China (PowerChina) have expressed interest in taking part in Vietnam’s large-scale railway project, including the Lao Cai – Hanoi – Haiphong section. 

 Prime Minister Pham Minh Chinh (R) and CREC Chairman Chen Yun. 

The view was shared during the meeting between Vietnam's Prime Minister Pham Minh Chinh and CREC Chairman of the Board of Directors Chen Yun, and PowerChina's Chairman of the Board Ding Yanzhang on September 16.

CREC Chairman Chen Yun expressed the group's willingness to invest in the railway projects outlined in the Vietnamese Government’s railway planning.

Acknowledging CREC's global business investments, PM Chinh reiterated that the Vietnamese government welcomes foreign businesses in general, and specifically Chinese enterprises, to expand their investments and operations within Vietnam.

Highlighting the significance of infrastructure development as a strategic priority, the Vietnamese government leaders and CREC's Chairman discussed the potential of exploring the construction of the approximately 388-kilometer Lao Cai - Hanoi - Hai Phong railway line.

Chinh welcomed CREC Group's potential participation in this project, requesting that immediately after the meeting, the relevant  Vietnamese agencies enter into specific discussions with CREC Group regarding the project's feasibility, including aspects such as design, financing, construction, and management. The aim is to find the most suitable and mutually beneficial arrangement for both parties.

The Prime Minister emphasized that the Government would guide on matters within its jurisdiction, with a commitment to ensuring progress, quality, safety, and environmental standards as outlined.

Ding Yanzhang, Chairman of PowerChina, also expressed plans to invest in power projects and participate in infrastructure development in Vietnam, including high-speed railway projects.

 Prime Minister Pham Minh Chinh and PowerChina's Chairman Ding Yanzhang. 

The Vietnamese Government leader welcomed this initiative and encouraged the group to collaborate with Vietnamese authorities to promptly explore solutions, emphasizing the importance of feasibility.

According to the Prime Minister, cooperation in infrastructure projects that link Vietnam and China, including high-speed railways, holds a solid political foundation rooted in the strong relationship between the two nations.

The key lies in the detailed implementation of these projects to yield practical benefits for all parties, while also adhering to the spirit of balancing the interests of the state, people, and businesses, and sharing the risks involved.

The Vietnam Railways Department is currently seeking feedback on the initial report for the Lao Cai - Hanoi - Haiphong - Quang Ninh railway route's planning phase.

The railways will start at the Hekou railway (China) in Lao Cai and run eastward through provinces and cities such as Yen Bai, Phu Tho, Vinh Phuc, Hanoi, Hung Yen, Hai Duong, Haiphong, and end at Cai Lan Port in Quang Ninh.

In Vietnam, the CERC has undertaken several notable projects, including the construction of the Cat Linh - Ha Dong line of the Hanoi Metro project with a total  EPC contract value of US$640 million. They are also involved in the Dak Nong wind power project valued at $18.1 million SD and a tire factory project in Tien Giang with a total value of $5 million.

The wholly state-owned PowerChina has been operating in the Vietnamese market since 2000 and has participated in major projects such as the  Lai Chau and Son La hydropower projects, the Vinh Tan coastal thermal power center, and acted as the general contractor for wind and solar power projects with a combined capacity of 7 GW. The total contract value for these projects exceeded $6.5 billion.

Prime Minister Pham Minh Chinh, along with the Vietnamese delegation, has traveled to Nanning to attend the China-ASEAN Expo and the China-ASEAN Trade and Investment Summit, held from September 16 to 17, at the invitation of the Chinese government.

TAG: Vietnam news Vietnam China vietnam chinal railway projects vietnam crec vietnam powerchina
Other news
07:45, 2023/10/03
Hanoi completes $27-million road to Soc Son satellite urban area
The project will enhance transportation connectivity, attract investment, ease traffic congestion on National Highway 3 leading to Noi Bai International Airport, and facilitate access to central Hanoi.
07:10, 2023/10/03
Vietnam Craft Village Festival 2023 celebrates Hanoi award-winning products
The Vietnam Craft Village Festival 2023 will take place from November 9 to 12 in Hanoi to promote craft village products and tourism.
22:52, 2023/10/02
Public investment as catalyst for Vietnam’s economic recovery in 2023: ADB
Accelerated government spending is expected to boost demand in the remaining months of the year.
22:10, 2023/10/02
Vietnam’s GDP growth forecast to expand by 4.7% in 2023: WB
Lower-than-expected growth in advanced economies and China could reduce external demand for Vietnamese exports.
22:27, 2023/10/01
Hanoi exceeds international visitor target in 2023
Hanoi received 18.9 million tourists in the first nine months of this year.
16:25, 2023/10/01
Decentralization, regulatory reform, fair compensation key to accelerating Hanoi's urban rail project
The more extensive the urban rail network, the better it will contribute to socio-economic growth.