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Vietnam considers US$58.7 billion high-speed railway

Vietnam considers US$58.7 billion high-speed railway

A Vietnamese national flag on its mast flown at the Ho Chih Minh mausoleum in Hanoi, Aug 28, 2019. (File photo: AFP/Manan Vatsyayana)

HANOI: Vietnam is considering building a high-speed railway that runs along the country's length with a possible price tag of up to US$58.7 billion, the government said on Sunday (Aug 14).

The Southeast Asian country's transport ministry will next month submit a proposal to build the 1,545km railway to the Politburo, the powerful decision-making body of the ruling Communist Party of Vietnam, the government said in a news release.

Vietnam, a regional manufacturing hub, is ramping up its investment in transport infrastructure to support its fast-growing economy.

The first two sections with combined length of 665km and total investment of US$24.72 billion would be open to traffic by 2032, the government said, adding that the entire project would be completed by 2045 to 2050.

Source: Reuters/vc

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