Vietnam’s proposed national high-speed railway project, shelved a few years ago due to hefty cost estimates, may be implemented over the next ten years to bolster its ailing rail network.
The government has tasked the Ministry of Planning and Investment to re-evaluate the proposal and report to the Politburo for instruction, Minister of Transport Nguyen Van The said Thursday.
The minister, at a National Assembly Q&A session, said the project may likely cost $58.71 billion in planned investment, with commercial operations expected to commence after 2030. The figure is equivalent to about 16% of Vietnam's GDP in 2021.
“When investment policies are made available, we will determine an appropriate schedule, with work to start three to four years later," he said.
Vietnam seeks a modern bullet train system to support its century-old rail network first built by the French in the 19th century.
According to the previous plan drawn up by the Ministry of Transport, the north-south high-speed railway would involve a totally new system, designed for a 350 kph speed, and operating speed of 320 kph, for passengers only. The first two sections of the system would be Hanoi-Vinh in the north and north-central region, and HCMC-Nha Trang in the south and south-central region.
The Ministry of Planning and Investment previously proposed the Ministry of Transport study possibilities in upgrading the operational railway to carry both passengers and freight with a speed of 160-200 kph.