Vietnamese firms confident to take part in North-South high-speed rail project
As the National Assembly is deliberating the landmark North-South high-speed railway project, domestic enterprises are stepping forward with bold commitments to contribute to the 67.34-billion USD project.
Work on the North-South expressway project is being accelerated. Together with the expressway, the high-speed railway is expected to meet transport demand and contribute to sustainably restructuring the transport market share along the North-South corridor. (Photo: VNA)
Hanoi (VNA) – As the National Assembly is deliberating the landmark North-South high-speed railway project, domestic enterprises are stepping forward with bold commitments to contribute to the 67.34-billion USD project.
Chairman of Hoa Phat Group Tran Dinh Long told the press that the company, among the world’s top 50 steel producers, stands ready to supply an estimated volume of 6 million tonnes of steel required for the project, particularly high-strength prestressed steel and that for specialised high-speed rail tracks.
He stated that Hoa Phat steel meets international standards as well as the project’s technical demands, emphasising its competitive prices over those of imported products.
The steelmaker produces 8.5 million tonnes of steel annually and is planning to expand its crude production capacity to over 14 million tonnes per year by 2025 after the Dung Quat 2 steel complex project is completed.
The corporation has conducted research on steel rail over the past three years, Long said, expressing his confidence that Hoa Phat is able to manufacture the tracks of the high-speed railway.
Experts held that the 1,730-kilometer railway will generate steady, long-term demand in multiple industries, bringing breakthrough opportunities for the steel sector.
In the meantime, Deo Ca Group, a major infrastructure developer in the country, proposed mechanisms to leverage the existing resources of the enterprises that have involved in the North-South expressway project.
The corporation also suggested prioritising domestic firms with sound management capability and creating opportunities for businesses in the localities along the railway route.
According to Deputy Minister of Planning and Investment Tran Quoc Phuong, the railway project will have direct impacts on 7-8 sectors, comprising construction and supporting industries such as building materials and manufacturing.
Last month, Deputy Minister of Transport Nguyen Danh Huy affirmed the railway will be built based on the state budget with minimal reliance on foreign technology transfer. He also underscored the mandatory use of domestically-produced goods, creating op﷽portunities for ಌlocal firms to participate in the project with a total construction value worth up to 34 billion USD./.
National Assembly deputies on November 13 listened to a report and a verification report on the investment policy of the North-South high-speed railway project worth around 1.7 quadrillion VND (67.34 billion USD), within the framework of the legislature’s ongoing 8th session in Hanoi.
Constructing a high-speed railway from the North to the South will create momentum for economic growth, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
Lam Viet Tung, Chairman of the Vietnam Intellectuals Association in the Netherlands, has expressed his support for the proposed project on developing a North-South high-speed railway in Vietnam.
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