Alliance claiming $100 bln investment for trans-Vietnam high-speed railway 'uncontactable'
An alliance between Mekolor, a relatively unknown Vietnamese company, and American entity Great USA, which claimed it could mobilize $100 billion for the North-South high-speed railway project, could not be contacted, said standing Deputy Prime Minister Nguyen Hoa Binh.
Meeting with leaders of ministries and businesses on the mega project on Thursday, Binh said the alliance was one of the six companies showing interest in investing in the project, along with VinSpeed - a subsidiary of Vietnam’s largest listed company Vingroup, multi-sector corporation Thaco, Hanoi-based National Thang Long Construction JSC, Vietnam Railways, and steel giant Hoa Phat.
The Deputy PM informed that all six companies had been invited to the meeting, but only five attended. The Mekolor-Great USA alliance did not show up. “We tried to contact them but could not locate their address,” he said.
According to the National Business Registration Portal, Mekolor was established in 2016 with its main field being trade promotion. It is headquartered in the Mekong Delta city of Can Tho, with Vo Xuan Truong as legal representative. The company has a charter capital of VND1 billion ($37,940) and, as of its latest business registration change in September 2021, had four employees.
Deputy Prime Minister Nguyen Hoa Binh chairs a meeting with representatives of ministries and businesses on the North-South high-speed railway project in Hanoi on November 27, 2025. Photo courtesy of the government's news portal.
The North-South high-speed railway project was given in-principle approval by the National Assembly, the country's legislature, in November 2024, with an estimated total investment of around VND1.7 quadrillion (about $67 billion).
The Vietnamese Government on April 23, 2025 issued a resolution that details a roadmap for implementing the North-South high-speed railway project, requesting all necessary conditions be completed for construction commencement no later than December 31, 2026, one year earlier than initially planned.
With a designed speed of 350 km/hour, the 1,541 km electrified railway will have 23 passenger and five cargo stations connected to key cargo hubs.
It will begin at the Ngoc Hoi station in Hanoi and pass through 20 provinces and cities before ending at the Thu Thiem station in Ho Chi Minh City.
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