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.

Simulating Phu Quoc electric train model, speed 70-100km/h, total capital of nearly 9,000 billion VND - Photo: BTC

On October 24, the An Giang Provincial People's Council held its 4th session (special session) to review and approve a number of important resolutions under its authority. Notably, the Phu Quoc tram project worth nearly VND9,000 billion.

At the meeting, the An Giang Provincial People's Council passed four important resolutions, including: Regulations on one-time subsidies for people working outside the payroll quota at Associations assigned by the Party and State at the provincial or district level before July 1 in An Giang province; Decision on investment policy for the urban railway project, section 1, under the public-private partnership (PPP) method; Project to establish a fund to support farmers in An Giang province; Regulations on decentralization of spending tasks on environmental protection in An Giang province.

Notably, the resolution on the investment policy decision for the urban railway project, section 1, under the PPP method attracted much attention.

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

The project is expected to be implemented from the fourth quarter of 2025 to the second quarter of 2027. The maximum project contract term is 40 years from the date of handover and commissioning.

The expected type of PPP project contract is build-operate-transfer (BOT). The project selects investors in special cases, the project implementing unit is Phu Quoc Sun Company Limited.

The total investment of the urban metro line project, section 1, is nearly 9,000 billion VND. The capital structure includes: State capital not exceeding 70% of the total investment of the project, equivalent to more than 6,200 billion VND and the capital of the investor or project enterprise not less than 30% of the total investment of the project, equivalent to more than 2,600 billion VND.

The project is a component of the Phu Quoc urban railway line, which when completed will provide a high-quality form of public transport.

The completed project will contribute to serving the APEC 2027 Conference, while facilitating traffic connections, serving public transportation needs for residents and tourists, reducing traffic accidents and emissions, and contributing to green urban development in Phu Quoc special economic zone by 2030.

FIGHTING

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