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| Chairman of the NA’s Committee for Economic Affairs Vu Hong Thanh delivers a verification report on the investment policy of the North-South high-speed railway project. (Photo: VNA) |
Hanoi (VNA) - National Assembly deputies on November 13 listened to a report and a verification report on the investment policy of the North-South high-speed railway project worth around 1.7 quadrillion VND (67.34 billion USD), within the framework of the legislature’s ongoing 8th session in Hanoi.
On behalf of the Prime Minister, Minister of Transport Nguyen Van Thang presented the proposal, saying that the goal of the investment is to build a high-speed railway to meet transport demand, contribute to sustainably restructuring the transport market share along the North-South corridor, and lay the foundation for socio-economic development while ensuring national defence and security.
Specifically, the Government recommends the construction of a new dual-track railway which has a gauge of 1,435 mm, is electrified, and designed for a speed of 350 km/h, and a load capacity of 22.5 tonnes per axle. The main line will be approximately 1,541 kilometres long, with 23 passenger and five freight stations.
Thang said that the principle for selecting stations is that they must align with the current conditions and development plans of localities, especially in areas with sufficiently large transport demand.
Regarding the project timeline, the minister said that the preparation and approval of the feasibility study report and FEED (Front End Engineering Design) are scheduled to be completed in 2025-2026, while land clearance, contractor selection through bidding, and project groundbreaking are planned for 2027, with the goal of completing the entire railway by 2035.
Preliminary calculations indicate that during the first four years of operation, the government will need to provide partial funding for infrastructure maintenance costs through the state economic budget, similar to the current national railway system. The estimated payback period for the investment is approximately 33.61 years, the minister added.
Delivering the verification report, Chairman of the NA’s Committee for Economic Affairs Vu Hong Thanh said that the committee basically agreed with the Government's proposal, as the project is in line with the railway network master planning scheme for the 2021-2030 period, with a vision until 2050.
During the feasibility study phase, the Government should direct relevant agencies to thoroughly review and select the optimal methods for connecting the high-speed railway line with the existing railway network, urban metro lines, other transport systems, and the regional and international railway networks, he noted./.
