The Railway Project Management Board has recently proposed to the Ministry of Transport to collect opinions from relevant ministries and agencies to accelerate the progress of submitting the investment proposal for the Lao Cai - Hanoi - Hai Phong railway project to the Prime Minister for review and approval.
According to the proposal of the Railway Project Management Board, the project set to implement three standard gauge railway lines with a total length of 388.35 meters connecting the Hai Phong seaport area, Vietnam and China with a gauge of 1,435 mm, passing through nine provinces and cities Lao Cai, Yen Bai, Phu Tho, Vinh Phuc, Hanoi, Bac Ninh, Hung Yen, Hai Duong and Hai Phong.
The total investment for the project is estimated at around VND211 trillion (US$8.3 billion), including VND135.6 trillion (US$5.3 billion) in low-interest loans and approximately VND75.4 trillion (nearly US$3 billion) in counterpart funds from the Vietnamese Government.
The Export-Import Bank of China is expected to serve as a capital sponsor.
The project is expected to be implemented within six years since the project is approved by the competent authorities and the loan agreement becomes effective.
In order to ensure effective investment, the project is planned to be implemented in two phases.
According to the plan, the Ministry of Transport will report to the Government and competent authorities for the investment policy of the Lao Cai - Hanoi - Hai Phong Railway project in January 2025; submit the pre-feasibility study report to the National Assembly for approval in May 2025, get the feasibility study report approved in July 2025; sign the loan agreement immediately after that and start construction of the entire route before December 10, 2025.
