High-speed railway expected to be iconic project

Delegate Nguyen Thi Xuan is concerned about the project's speed, technology issues, and investor selection - Photo: Quochoi.vn

On November 13, the National Assembly discussed in groups the investment policy for the high-speed railway project on the North-South axis.

Comparing the railway line to a sleeping giant, the implementation of the North-South railway project will help "awaken" this giant. Delegate Nguyen Nhu So (Bac Ninh) said that the project implementation will create leverage for Vietnam's economy to grow.

“Choosing a speed of 350km/h requires great care”

However, Mr. So said that to make this dream come true, it is necessary to face challenges such as investment capital, scientific preparation roadmap, and careful calculation from all levels. Because the total investment of the project is up to 67 billion USD, an unprecedented large expense in the history of infrastructure investment in Vietnam.

At the same time, without an optimal financial strategy and capital allocation, it can lead to imbalances. This causes long-term impacts on public debt, pushing up the deficit, while the budget prioritizes areas such as health, essentials, social welfare, etc.

Therefore, delegate So believes that in order for the project to ensure progress and investment level, it is necessary to closely monitor and prevent risks. Detailed calculations on high readiness will make the project sustainable, not over budget, with a clear plan and feasible solutions.

Also agreeing with the project's construction policy, delegate Nguyen Thi Xuan (Dak Lak delegation) said that if determined to do it, this will be a symbolic project in the era of growth, creating a driving force for the country's socio-economic development.

Therefore, delegate Xuan said that when implementing the project, it is necessary to carefully calculate the effectiveness. Because although it is a symbolic project, it is unprecedented, the first time applying high-speed rail technology, so the technology must meet the world's trends, be advanced and not outdated, and be highly effective.

Accordingly, Ms. Xuan noted that in selecting contractors and investors, it is very important to consider carefully to meet advanced technology, capacity and high-quality resources. At the same time, it is necessary to clarify why 23 passenger stations and 5 freight stations were designed, with a speed of 350km/h, when our terrain and geology are hills, mountains, rivers, lakes and weak ground.

“Choosing a speed of 350km/h requires great caution. We promote the morning in Hanoi, lunch in Nha Trang and afternoon in Ho Chi Minh City, but with 23 passenger stations and 5 freight stations, will it affect the speed? We need to promote just enough to be close to reality” – delegate Xuan said.

Concerns about project efficiency and capital overruns

Delegate Pham Khanh Phong Lan (HCMC) shared that everyone dreams of the country having an increasingly modern transportation system. However, there are many concerns and cautions with the report's assessment that current resources are better and project implementation conditions are more feasible.

According to Ms. Lan, the country currently has 22 airports, including 15 domestic airports and 7 international airports. Therefore, it is necessary to carefully evaluate how the railway project will affect aviation. It is necessary to calculate the specific travel needs of the people, whether or not to prioritize passenger transport only.

“Another concern is how to do it effectively. Experience with large projects that have encountered problems with disbursement, capital overruns, and other negative factors shows that we need to carefully consider how to do it,” said Ms. Lan.

Delegate Truong Trong Nghia (HCMC) also expressed concern about the project’s implementation capacity. The same project that took other places 5 years to complete, we have not finished it in 10 or 15 years. Others do it for 10 dong, we do it for 20-30 dong.

“The series of projects that the General Secretary pointed out were covered up and put on hold were very wasteful. The investment projects were initially very effective but later became a financial burden, prime land was abandoned, and piles of iron gradually became scrap iron” – Mr. Nghia raised the issue.

Running at 350km/h and stopping at only 5 stations

Explaining further at the group, Minister of Transport Nguyen Van Thang said that the railway line has 85 trains. However, the train runs at 350km/h and only stops at 5 stations, the travel time from Hanoi to Ho Chi Minh City is 5 and a half hours.

In addition, there is also a train running at 280km/h, stopping at more stations for people to choose from on routes such as Hanoi - Vinh, Ho Chi Minh City - Nha Trang. Therefore, later when demand increases, the mining company or private enterprise can invest in more trains and rent tracks to run.

Regarding concerns about capital overruns and slow progress, Mr. Thang said that some metro lines had previously encountered this situation. However, the high-speed railway line has been carefully studied, pointing out the causes of slow progress in previous projects, such as investment preparation, site clearance, and mainly using borrowed capital, depending on partners.

Therefore, Mr. Thang said that for this project, the selection of partners must be in the direction of finding contractors with good quality, reasonable prices and forced technology transfer, not depending on foreign loans.

“If there is a loan, it will not exceed 30% of the total investment, divided by year about 46,000 billion VND (1.85 billion USD/year). Cheap loans and a non-binding mechanism so that when constructing, it does not depend on binding factors when borrowing capital and the loan level does not exceed 30%, so it is not a big financial problem,” Mr. Thang said.

Tuoitre.vn

Source: https://tuoitre.vn/ky-vong-duong-sat-toc-do-cao-la-du-an-bieu-tuong-20241113122014283.htm