Approved resolution to invest in Phu Quoc electric train project worth nearly 9,000 billion VND

An Giang Provincial People's Council approved the investment policy decision for the Phu Quoc urban railway project, phase 1, with a speed of 70-100km/h and a total investment of nearly VND9,000 billion.

Simulation of the Phu Quoc electric train model, with a speed of 70-100km/h, total investment of nearly 9,000 billion VND - Photo: Organizing Committee

On October 24th, the An Giang Provincial People's Council held its 4th session (a specialized session) to consider and approve several important resolutions within its authority. Of particular note was the Phu Quoc electric train project, worth nearly 9,000 billion VND.

At the session, the An Giang Provincial People's Council approved four important resolutions, including: Regulations on one-time allowances for employees working outside the staffing quota at associations assigned by the Party and State at the provincial or district level before July 1st in An Giang province; Decision on the investment policy for the urban tram line project, section 1, using the public-private partnership (PPP) method; Project to establish a fund to support farmers in An Giang province; Regulations on the decentralization of expenditure tasks for environmental protection in An Giang province.

Notably, the resolution on the investment policy decision for the first phase of the urban metro line project using the PPP method has attracted considerable attention.

Specifically, the project has a line length of nearly 18km, with 5-7 stations and 1 vehicle maintenance center. The operating vehicles are trains consisting of 3-5 compartments (modules), with a design speed of 70-100km/h.

The project is expected to be implemented from Q4 2025 to Q2 2027. The maximum contract term for the project is 40 years from the date of handover and commissioning.

The proposed PPP project contract type is Build-Operate-Transfer (BOT). The project will select an investor under special circumstances, and the project implementer will be Phu Quoc Sun Company Limited.

The first phase of the urban metro line project has a total investment of nearly 9,000 billion VND. The capital structure includes: state capital not exceeding 70% of the total investment, equivalent to over 6,200 billion VND, and capital from investors or project enterprises not less than 30% of the total investment, equivalent to over 2,600 billion VND.

The project is a component of the Phu Quoc urban railway line, and once completed, it will provide a high-quality form of public transportation.

The completed project will contribute to serving the APEC 2027 Conference, while also facilitating transportation connections, serving the public transportation needs of residents and tourists, reducing traffic accidents and emissions, and contributing to the development of a green urban area in the Phu Quoc Special Economic Zone by 2030.

BUU DAU

Source: https://tuoitre.vn/thong-qua-nghi-quyet-dau-tu-du-an-tau-dien-phu-quoc-gan-9-000-ti-dong-20251024111026445.htm