National Assembly decides to invest more than 1.7 million billion VND to build high-speed railway

The resolution on the investment policy for the high-speed railway project on the North-South axis, after more than 15 years on the agenda, by the afternoon of November 30, had achieved high consensus among National Assembly delegates.

Investing more than 1.7 million billion VND to build a 350km/h speed railway from North to South

According to the recently passed resolution, the National Assembly decided on the investment policy for the North-South high-speed railway project (the Project) with a preliminary total investment of more than 1.7 million billion VND from the State budget and other legal capital sources, implemented in the form of public investment.

The progress agreed by the National Assembly is to prepare a feasibility study report from 2025 and strive to basically complete the Project by 2035.

The North-South high-speed railway has a total length of about 1,541km, starting at Ngoc Hoi station ( Hanoi ) and ending at Thu Thiem station (HCMC).

National Assembly deputies vote to pass a Resolution on investment policy for the high-speed railway project on the North-South axis (Photo: Hong Phong).

The project passes through 20 provinces and centrally-run cities including: Hanoi, Ha Nam, Nam Dinh, Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Hue, Da Nang, Quang Nam, Quang Ngai , Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, Dong Nai, Ho Chi Minh City.

With the new investment in a 1,435mm gauge double-track line, the North-South high-speed railway has a design speed of 350km/h, designed to transport passengers, meet dual-use requirements for national defense and security, and can transport goods when necessary. Along the route, there are 23 passenger stations and 5 freight stations.

According to preliminary calculations, the total land use demand of the Project is about 10,827 hectares, including: rice land about 3,655 hectares, forestry land about 2,567 hectares and other types of land about 4,605 ​​hectares. The preliminary resettled population is about 120,836 people.

The National Assembly also decided on many specific mechanisms and policies in implementing investment in the North-South high-speed railway.

That is, during the implementation of the Project, the Prime Minister is allowed to decide to issue Government bonds to supplement the annual investment plan and budget for the Project in case the annual State budget does not meet the progress.

The Prime Minister also decided to mobilize ODA capital and foreign preferential loans to implement the Project without having to prepare a project proposal to use the capital.

The Head of Government is authorized to decide on the use of annual revenue increases and savings from the central budget (if any) and other legal sources of capital for the Project in case the annual State budget estimate does not meet the progress. The use of revenue increases and savings does not have to be implemented in the order of priority as prescribed by the law on the State budget.

Localities are allowed to keep 50% of the revenue from land exploitation funds in the vicinity of railway stations.

Regarding the development, exploitation of land funds and added value from land in the vicinity of high-speed railway stations, the Provincial People's Committee decides on planning, architecture, technical infrastructure, and social infrastructure indicators; adjusts the function of using land in the vicinity of railway stations to exploit land funds and added value from land.

Regarding the amount of money collected from exploiting land funds in the vicinity of the high-speed railway station, the provincial local government is allowed to retain 50% and pay 50% to the central budget to balance the state budget for investment in the project.

National Assembly session on November 30 (Photo: Hong Phong).

Regarding the authority to decide on adjusting investment policies and projects, during the time the National Assembly is not in session, the National Assembly authorizes the National Assembly Standing Committee to consider and decide on adjusting investment policies of projects, except in cases of adjusting the total investment level.

The National Assembly assigned the Government to be responsible for organizing the implementation and investment management of the Project to ensure progress and quality; managing and using capital and resources economically and effectively, and preventing corruption, waste, and negativity.

During the operation and exploitation process, based on proposals from localities, the Prime Minister decided to invest in additional station locations in urban areas with high transportation demand.

In the previous report, Chairman of the Economic Committee Vu Hong Thanh said there was a proposal to add the scope of the Project to extend from Lang Son to Ca Mau Cape and to divide the implementation into phases.

The National Assembly Standing Committee said that the Railway Network Planning for the 2021-2030 period, with a vision to 2050, has identified the development of new railway lines from Lang Son to Can Tho, including 3 sections: Lang Son (Dong Dang) - Hanoi, Hanoi - Ho Chi Minh City, Ho Chi Minh City - Can Tho to connect dynamic regions, urban areas, major economic centers and ensure national defense and security on the North - South economic corridor.

Because the railway sections from Lang Son to Can Tho have different transportation needs, the technical standards and types of railways are also different and are researched and invested in according to independent projects, suitable for the transportation needs of each section and the ability to mobilize resources.

In particular, the National Assembly Standing Committee said that the 156km Lang Son - Hanoi section is a standard railway, with detailed planning being studied and investment expected before 2030.

The Hanoi - Ho Chi Minh City section is 1,541km long, a high-speed railway, striving to start construction in 2027; and the Ho Chi Minh City - Can Tho section is 174km long, a standard railway, being prepared for investment, expected to be implemented before 2030.

Chairman of the Economic Committee Vu Hong Thanh (Photo: Pham Thang).

Regarding the socio-economic and financial efficiency of the project, the National Assembly Standing Committee believes that railway projects bring great efficiency to the economy. However, the revenue calculated to pay back the project's capital is mainly from transportation and commercial exploitation revenues to balance the costs of operating, maintaining vehicles, maintaining infrastructure and paying infrastructure fees to the State.

Accordingly, in the first 4 years of operation, revenue can only cover the costs of operating and maintaining vehicles, so the State needs to partially support the economic capital allocated to the railway system as it is now, to maintain the infrastructure.

The North-South high-speed railway is built to meet transportation needs, creating an important driving force for rapid and sustainable socio-economic development, promoting advantages on the North-South economic corridor, ensuring effective connection between the East-West corridors and countries in the region.

Dantri.com.vn

Source: https://dantri.com.vn/xa-hoi/quoc-hoi-quyet-dau-tu-hon-17-trieu-ty-dong-xay-duong-sat-toc-do-cao-20241130131351072.htm