The Vietnam Railways Corporation and Japanese experts met on September 15 to consider the biggest transportation project ever - North-South express railway.

According to the chief of the Japan International Cooperation Agency’s (JICA) research group Iwata Shizuo, the Hanoi-HCM City express railway will be 1570km long, with 26 stations. The trains’ top speed will be 300km per hour. This railway is scheduled to open for passengers in 2026, with investment capital of around US$38 billion.

Japanese experts have suggested developing some priority sections first such as Hanoi-Thanh Hoa, Hanoi – Vinh, Hue city – Da Nang, Nha Trang – HCM City and Phan Thiet – HCM City because these are big cities in Vietnam.

According to JICA’s research, the Hanoi – Vinh and HCM City – Nha Trang sections can open in 2026 and the entire route become operational by 2036.

Capital is a problem, said Japanese experts. National projects need investment from the state budget and private investors both. However, this is an attractive project with stable profit so it should lure private investors.

Deputy Minister of Transportation Ngo Duc Thinh said that the government has allocated capital for making and evaluating the investment report for this project. The Vietnam Railways Corporation has finalised this report to submit to the State Evaluation Council.

Thinh said that after the report is considered by the State Evaluation Council, it will be submitted to the National Assembly in May 2010. The Prime Minister has assigned related ministries and agencies to call for local and foreign investment for this project.

VietNamNet/VNE