Saturday, August 19, 2017 - 6:54:30

3.6 billion USD railway to connect HCM City, Can Tho

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The Southern Institute of Science and Technology and the US-based EDES group signed a cooperation agreement on the building of a 3.6 billion USD high-speed railway connecting Ho Chi Minh City and the Mekong Delta city of Can Tho on November 12.

The two sides will set up a joint venture and prepare a feasibility project to be submitted to the Ministry of Transport and the Government for approval.

The 134km railway, with a designed speed of 200km per hour, will run by wind and solar energy.

Once operational, the project is expected to shorten the travel distance between the two cities by 30km, thus saving 900 million USD.

It will also affect labour allocation, economic structure shifting and regional and international integration as well as support the industrialisation process of HCM City and Mekong Delta provinces.

On this occasion, the US group signed a memorandum of understanding with its Vietnamese partner on investing 1 billion USD in five hi-tech projects.-VNA
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