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Vingroup to be involved in railway projects

Released at: 14:05, 25/07/2015

Vingroup to be involved in railway projects

VNR and Vingroup will become strategic partners in upgrading railway stations.

by Minh Tuyet

Vietnam Railways (VNR) has approved a proposal from Vingroup for it to invest in upgrading railway stations under Ministry of Transport (MoT) projects.

VNR expects to become a strategic partner of Vingroup in using the railway infrastructure VNR manages, according to a document it sent to Vingroup responding to its proposal to invest in or lease three railway stations in Hanoi, Da Nang and Ho Chi Minh City. VNR said such cooperation would ease the burden on the State budget and result in the more effective use of railway infrastructure.

Vingroup will upgrade and transfer to VNR areas that serve train passengers and will invest in and expand areas that do not serve train passengers to create business.

Only Da Nang station has plans to relocate. Vingroup proposed its conduct the project under the build-transfer (BT) mode and has requested MoT provide detailed guidance.

In April Vingroup expressed its intention to become involved in railway projects with MoT. Other companies are also keen to take part in such projects, including the Bach Dang Complex Company, the IndoTran Logistics Corporation, and the Express Trains Ath Company Limited.

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