Friday , July 12 2024

PM urges thorough study for north-south railway project

Chairing a meeting on Thursday to discuss the investment policy for the north-south high-speed railway project, the PM Chính stressed the need for innovative and strategic approaches, aiming to complete the 1,541km of high-speed railway within ten years.

Prime Minister Phạm Minh Chính (centre) chairing the meeting. — VNA/VNS Photo

HÀ NỘI — The Prime Minister Phạm Minh Chính has instructed the Ministry of Transport to enhance the north-south high-speed railway project, emphasising the need for comprehensive research about legal and practical bases.

The project aims to address high transport demand nationally and Việt Nam’s elevated logistics costs.

Chairing a government’s meeting on Thursday to discuss the investment policy for the north-south high-speed railway project, PM Chính stressed the need for innovative and strategic approaches, aiming to complete 1,541km of high-speed railway across twenty provinces and cities within ten years, targeting 2035 for completion.

The project should prioritise the most efficient and shortest routes, designed to operate at speeds of 350km/h.

It should complement existing north-south transport routes, including National Highway 1, Hồ Chí Minh Highway and the under-construction expressway, and focus on passenger transport, while also supporting fast freight and national defence needs.

The existing railway should be upgraded for freight transport.

The PM also requested a thorough study of the total investment to ensure appropriateness, considering similar projects abroad and Việt Nam’s unique terrain.

It needs to calculate the capital recovery capability and thoroughly evaluate the socio-ecomic, financial, transport and logistics efficiency, as well as direct and indirect comprehensive effectiveness.

Funding should be diversified through various sources, including central and local government funds, loans, bond issuance, and corporate funds.

The PM Chính also highlighted the necessity of a modern, digitalised management plan, work force training, technology transfer and the development of a railway industry ecosystem, in line with the directives of Politburo.

Deputy Prime Minister Trần Hồng Hà will continue to oversee the project, with the Ministry of Transport refining the project details, incorporating feedback and preparing for the subsequent submission for approval. — VNS

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