Arranged 8.3 billion USD for Lao Cai - Hanoi - Hai Phong railway

TPO - Chairing a meeting of the Government Standing Committee on the afternoon of September 29, Prime Minister Pham Minh Chinh requested the Ministry of Finance and relevant agencies to review and calculate plans to arrange capital sources to implement the Lao Cai - Hanoi - Hai Phong railway project.

On September 29, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee to listen to a report on the results of the first session of the Vietnam-China Joint Railway Cooperation Committee and review the situation and progress of work implementation, continuing to promote the implementation of the Lao Cai - Hanoi - Hai Phong railway project according to the set requirements.

According to the National Assembly Resolution, the Lao Cai - Hanoi - Hai Phong railway project is about 419 km long with a total capital of 203,231 billion VND, equivalent to 8.37 billion USD, starting construction in 2025 and striving to be completed in 2030.

At the meeting, the Prime Minister emphasized the spirit of self-reliance, positivity, and proactiveness, doing what can be done immediately, and continuing to closely coordinate with the Chinese side and persistently exchange to achieve the goal.

Assigning specific tasks, the Prime Minister requested the Ministry of Science and Technology and the Ministry of Construction to urgently implement, appraise, and promulgate standards and regulations for high-speed railways and the Lao Cai - Hanoi - Hai Phong railway in accordance with the processes, procedures, authority and provisions of law and international regulations, to be completed by October 2025.

The Ministry of Finance shall preside over and work with relevant agencies to review and calculate capital arrangement plans, including proactively mobilizing Vietnam's capital sources and studying and proposing the most effective loan plan. The Ministry of Finance shall also continue to work specifically with the Asian Infrastructure Investment Bank on the possibility of borrowing capital for the project; report to the Government Standing Committee in October.

The Ministry of Construction and relevant agencies will develop a master plan on the critical path, site clearance, and component projects. In particular, for component project 1 (investment in infrastructure connecting stations on the line and station square, using domestic capital), the Prime Minister requested to complete the work to start the project in 2025.

Regarding the agreement on connecting standard gauge railways between the two countries, the Prime Minister directed to unify the documents and technical plans in September 2025.

Regarding cooperation in developing the railway industry, the Prime Minister emphasized the viewpoint of implementing from low to high, from small to large, from simple to complex, ensuring each step is done firmly.

Source: https://tienphong.vn/thu-xep-83-ty-usd-cho-duong-sat-lao-cai-ha-noi-hai-phong-post1782435.tpo