Illustrative image (Source: VNA) The Lotte Engineering and Construction ( Lotte E&C) of the Republic of Korea wants to invest in the phase II of the Yen Vien – Lao Cai Railway project under the build-lease-transfer (BLT) model , according to the Ministry of Transport.
Under the phase II, the Yen Vien – Lao Cai Railway is expected to be able to handle 5 million passengers and 7.5 million tonnes of cargoes a year while the travel time should be cut by 90 minutes, the Ministry said.
Lotte E&C was one of the main contractors in the recently-completed first phase, in which the Yen Vien – Lao Cai Railway was upgraded at an investment of 166 million USD.
Upon the approval of the ministry, Lotte looks to complete the second phase within three years and then lease the infrastructure to the Vietnam Railway Corporation.
The ministry is still waiting for a detailed proposal for the project from Lotte E&C as well as response from ODA donors before deciding on the investment plan.-VNA
