VinSpeed registers to invest in North-South high-speed railway project

On May 14, VinSpeed High-speed Railway Investment and Development Joint Stock Company officially registered to invest in the North-South high-speed railway project. The project is expected to be completed by 2030.

The project has an investment capital of about 1,562 trillion VND (equivalent to about 61.35 billion USD), excluding compensation costs, relocation support, and resettlement for site clearance.

Illustration of high-speed rail projects around the world .

Of which, VinSpeed is responsible for arranging 20% of the total investment capital of the project, equivalent to 312.33 trillion VND (about 12.27 billion USD). For the remaining 80% (excluding compensation costs, relocation support, and resettlement for site clearance), VinSpeed proposes to borrow State capital without interest within 35 years from the date of disbursement.

VinSpeed hopes to start the project before December 2025, speed up the construction progress, and put the entire line into operation before December 2030. Currently, VinSpeed is negotiating with partners from countries with developed railway industries such as China, Germany, and Japan to receive technology transfer and manufacture locomotives, carriages, and signal and control systems in Vietnam. The company will also quickly organize personnel training and master technology to take the initiative in developing the country's railway industry.

To ensure a portion of the revenue returned to the State, VinSpeed will cooperate with Vingroup and Vinhomes to propose the development of modern urban areas with full amenities in locations adjacent to railway stations according to the TOD (Transit Oriented Development) model. Currently, most of the areas adjacent to railway stations are far from the city centers, but when invested by the Vingroup ecosystem, they will develop strongly, contributing to changing the appearance of infrastructure, promoting tourism and creating economic development momentum for localities.

Ms. Duong Thu Van - representative of VinSpeed Company shared: “Despite knowing that there are many difficulties and challenges, we have boldly and proactively registered to invest in this project. We are committed to making every effort and taking action to develop the project. We believe that, with our flexibility and business experience, we will generate revenue, offset investment costs, and contribute to timely repayment of loans. We will cooperate extensively with domestic enterprises to be able to deploy development, simultaneously build the entire route and jointly develop Vietnam's high-speed rail industry. We look forward to receiving strong and practical support from the Party, State, Enterprises and People”.

VinSpeed High-Speed Railway Investment and Development Joint Stock Company has a charter capital of 6,000 billion VND. VinSpeed will be the next spearhead in the ecosystem founded by Mr. Pham Nhat Vuong.

Source: https://cand.com.vn/Giao-thong/vinspeed-dang-ky-dau-tu-du-an-duong-sat-cao-toc-bac--nam-i768329/