VNR proposes 308 mln USD in fund for railway renovation
The Vietnam Railway Corporation (VNR) has asked the Ministry of Transport for 7 trillion VND (308.2 million USD) in Government bonds to renovate the Hanoi – HCM City rail system from 2017 – 2020.
Renovation work in progress in a railway section in Da Nang. (Photo: VNA)
Hanoi (VNA)– The Vietnam Railway Corporation (VNR) has asked the Ministry of Transport for7 trillion VND (308.2 million USD) in Government bonds to renovate the Hanoi –HCM City rail system from 2017 – 2020.
The North-SouthRailway is a single-track metre gauge line with a total length of 1,726kilometres, an official from the corporation said, adding that since it wasconstructed more than eight decades ago, much of the railway’s infrastructure –including rail tracks, bridges, tunnels, and level crossings – is outdated orin poor condition, reducing transportation capacity and efficiency.
The old system forcespassenger trains to travel at 50 km per hour and cargo trains at 35 km per houron average.
The VNR has proposedfour key projects, worth about 1.6 – 1.8 trillion VND (70.4 million – 79.3million USD) each, to upgrade infrastructure on the Hanoi – Vinh and Nha Trang– HCM City sections, and reinforce weak bridges and tunnels.
It is estimated thatonce the projects are completed, they will help the corporation increaserevenue by 1 billion VND (44,040 USD) per day and reduce freight rates.-VNA
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Renovation work in progress in a railway section in Da Nang. (Photo: VNA)
