Hanoi nominates two railway investors

VietNamNet Bridge – The Ha Noi People’s Committee has submitted a report to Prime Minister Nguyen Xuan Phuc asking him to allow the Vingroup and T&T Group to compile investment dossiers on three of 10 urban railway projects planned from now until 2025. In July, 2017, the committee announced a list of seven investors that have registered to implement urban railway projects in the capital city. However, only Vingroup and T&T Group have submitted detailed implementation proposals. Vingroup plans to invest in two routes, No 5, from Van Cao to Hoa Lac (38.4km) and No 2 from Tran Hung Dao Street to Thuong Dinh (5.9km). Meanwhile, the T&T Group has proposed that it takes charge of the No 4 route connecting Me Linh, Sai Dong and Lien Ha (54km). All projects are to be implemented under the Build and Transfer (BT) investment model. The two companies have guaranteed to raise capital for pre-feasibility studies, and to voluntarily hand over all records and research reports to the People’s Committee and other investors in case they are not chosen as the main investors. If chosen as the main investors, Vingroup and T&T Group will include expenses incurred for the pre-feasibility studies into the overall project costs. Based on the two groups’ proposals, the Ha Noi People’s Committee has noted in its report that they are investors with good financial and management capacity who have already implemented important projects. Since the railway projects are of great national importance, they need approval from the…

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