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Vietnam Railway Corporation (VRC) will complete a more comprehensive feasibility study this year on a high speed railway project, estimated to cost USD55.8 billion.
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| A more comprehensive feasibility study about the railway project to be finished in 2011 |
VRC Deputy Director Pham Cong Trinh said, once completed, the study will be submitted to the Government, then to the National Assembly for its consideration.
The Government has already submitted one such study on the project to the National Assembly, but has still not received approval.
Trinh added that Japan International Cooperation Agency (JICA) has agreed to provide technical assistance to VRC, the project’s investor, to conduct the study for the construction of the first sections, which would link Hanoi to Vinh, and Nha Trang to Ho Chi Minh City.
In a recent interview with Sai Gon Giai Phong Newspaper, Minister of Transport Ho Nghia Dung said the high-speed railway project will definitely be realised, but that more time and research are needed before it can receive permission from the National Assembly.
Many scientists and NA deputies oppose the project, which would eventually link Hanoi to Ho Chi Minh City, arguing that it would be too much of a financial burden, adding to the national debt. The project would be massive, requiring a total investment of USD55.8 billion and 30 years to complete, making it risky and difficult, they say.
The huge project, similar to Japan\'s Shinkansen bullet-train system, would rely mostly on official development assistance for its construction.
