CT Group has recommended raising USD9.98 billion to implement the HCM City-Can Tho railway project through a public-private partnerships (PPP).

Under the group’s proposal sent to the government, the railway route would be 174 kilometres long and have 12 stations, running HCM City, Can Tho City and the provinces of Binh Duong, Long An, Tien Giang and Vinh Long. It will transport both passengers and goods.

Once approved, CT Group will co-operate with some Chinese partners to set up a joint venture to raise capital for the project. The project is expected to have a total investment of USD9.98 billion with 85 percent from the joint venture and the remainder from the state budget.

The firm has pledged to complete the feasibility study in the first half of this year. Work on the project is expected to be finished before 2032.

Once put into operation, the route can serve 16.4 million passengers and 19.1 million tonnes of cargo annually by 2035. The figure would rise to 42 million and 81 million respectively by 2050.

The railway will start from An Binh Station in Binh Duong and end at Can Tho Station.