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VinSpeed proposes 61.35 billion USD investment for North–South high-speed railway

VinSpeed commits to mobilising 20% of the total capital, equivalent to 12.27 billion USD. For the remaining 80%, excluding costs related to compensation, relocation support, and resettlement for land clearance, the company proposed borrowing from the state budget, through zero-interest loans, repayable over a 35-year period from the disbursement date.

Illustrative image (Photo: Internet)
Illustrative image (Photo: Internet)

Hanoi (VNA) - VinSpeed High-Speed Rail Investment and Development JSC on May 14 officially announced its registration to invest in Vietnam’s North–South high-speed railway project, with an estimated investment of 1.562 quadrillion VND (approximately 61.35 billion USD), excluding costs related to compensation, relocation support, and resettlement for land clearance.

The project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.

As part of its investment framework, VinSpeed commits to mobilising 20% of the total capital, equivalent to 12.27 billion USD. For the remaining 80%, excluding costs related to compensation, relocation support, and resettlement for land clearance, the company proposed borrowing from the state budget, through zero-interest loans, repayable over a 35-year period from the disbursement date.

Compared to the investment plan approved under Resolution No. 172/2024/QH15, VinSpeed’s proposal would substantially reduce fiscal pressure on the national budget. This model gains further relevance considering the global trend of high-speed rail projects struggling with cost recovery and sustained profitability.

VinSpeed has pledged to begin construction before December 2025, accelerating the project timeline to bring the entire railway into operation by December 2030. The firm is currently in talks with leading partners from China, Germany, and Japan to facilitate technology transfer and the domestic production of locomotives, carriages, and signaling systems. In parallel, VinSpeed plans to implement rapid workforce training to localise technical capabilities and foster Vietnam’s self-reliance in railway development.

To support revenue generation and partially repay public investment, VinSpeed will partner with Vingroup and Vinhomes to develop comprehensive urban areas near key railway stations, based on the Transit-Oriented Development (TOD) model. With support from Vingroup’s extensive ecosystem, these urban areas are expected to catalyse infrastructure transformation, improve living standards, promote tourism, and drive local economic growth.

Duong Thu Van, a representative of VinSpeed, affirmed the company’s unwavering dedication to the project, highlighting a focus on innovation, determined action, and close cooperation with domestic enterprises to build both the railway system and a sustainable high-speed rail industry in Vietnam.

With a charter capital of 6 trillion VND, VinSpeed is poised to become a key spearhead within the Vingroup ecosystem, contributing to Vietnam’s global ambitions and long-term prosperity./.

VNA
#VinSpeed #North–South high-speed railway #Vingroup
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