Vietnam is looking at building a USD50bn express north-south rail link from 2020, said Deputy Transport Minister Nguyen Ngoc Dong.
An express railway in Japan
Dong said the state budget will cover 28 percent of total investment, with rest coming from ODA and private sources.
The express link will cut travel time between Hanoi to HCM City to less than six hours.
The Transport Ministry is waiting on approval for the plan from the National Assembly and will then draw up a site clearance plan and call for investment.
Dong said it was hoped the project could be completed by 2024.
The express railway will run parallel with the current North-South railway.
“We will organise conferences with the participation of experts and seek public opinion," Dong said.
He said work was underway to upgrade by 2020 the nation's existing rail network to raise the speed to 80-90km an hour for passenger trains and 50-60km an hour for cargo trains.
