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T&T wants to invest in Hanoi Rail Station

The T&T Group has requested the transport ministry to allow it to invest in the Hanoi Railway Station.
The T&T Group has requested the transport ministry to allow it to invest in the Hanoi Railway Station.

Thegroup said it would abide by current regulations and ensure aconstruction schedule to meet the travel requirements of the localpeople and tourists.

Hanoi Railway Station wasestablished in 1902 by the French colonialists. It was rebuilt in 1976and has become one of the largest train stations of the country.

Earlier, property giant Vingroup offered to buy Hanoi, Sai Gon and DaNang railway stations and replace them with modern stations elsewhere inthe three cities, to ease pressure on their downtown areas. The plansby private companies to invest in the railways are in response to thegovernment's policies, which allow various economic sectors to invest inthe rail sector to modernise it and ease the burden on public funds.

Transport Minister Dinh La Thang had asked the VietnamRailway Corporation (VRC) and related entities to plan a road map forselling the operational rights of railway stations, to attract moreinvestors and to issue bids to choose the best offers.

The VRC said it had to spend 7 trillion VND (322.58 million USD) inthe 2011-15 period to upgrade the network and introduce new technologiesto manage the operations.

By 2020, an estimated 2trillion VND (92.2 million USD) more will be needed for continuedimplementation of these plans, and 60 trillion VND (2.79 billion USD)for 12 projects to modernise the main routes.

Earlier this year, the T&T Group also requested the ministry toallow it to buy Phu Quoc international airport in the southern provinceof Kien Giang.

Established in 1993, T&T Groupoperates in the fields of finance, industry, minerals, real estate andexport. It has a charter capital of 2.5 trillion VND (115 million USD).-VNA
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