Vietnam’s National Assembly recently approved the project of a railway link to China that will add an estimated $3 billion to a larger project. The railway will run from the northern province of Lao Cai bordering China, through the capital Hanoi to the major port city of Haiphong, and run through other provinces, including Phu Tho, Bac Ninh, and Hung Yen, home to several industrial parks. The total cost of this project is $11 billion.
On September 22, a turnkey contract was signed between Siemens Mobility and VinSpeed (a rail subsidiary of Vietnam’s largest conglomerate, Vingroup) with a total value of up to one billion euros. The project marks Vietnam’s entry into high-speed rail and covers the construction and outfitting of two new corridors: Hanoi-Quang Ninh, a new line of approximately 121 kilometers; and Ben Thanh-Can Gio, a connection approximately 54 kilometers long in the south of the country.
