Hanoi-Nhon elevated railway to be completed by 2022

The Hanoi station-Nhon elevated railway project will be completed by 2022 after trains are brought to Vietnam in July 2020.

The Hanoi Metropolitan Railway Management Board (MRB) has said that the trains for the Hanoi Station-Nhon route are being assembled in France and will arrive in Vietnam by July 2020 to be ready for operation by April 2021.

Hanoi-Nhon elevated railway to be completed by 2022



Meanwhile, the implementation of the elevated railway has been going slowly because of the lack of capital.

Nguyen Dinh Tam from the Hanoi Civil Engineering University expressed his concern that trains will arrive when the railways are still not ready.

“The implementation of the railway and station project, and the procurement of equipment and trains need to be carried out concurrently, so that all the railway, station and trains get ready at the same time. This will save the costs in the best way,” he said.

The Hanoi Metropolitan Railway Management Board (MRB) has said that the trains for the Hanoi Station-Nhon route are being assembled in France and will arrive in Vietnam by July 2020 to be ready for operation by April 2021.

The finishing the roads and stations and the procurement of equipment and assembly of trains must go hand in hand. If roads, stations and trains can operate at the same time, it will be more convenient and costs the most economical. 

 


If trains are brought to Vietnam before the railway and station are ready, the trains will be left idle. During that time, investors will still have to pay for bank loan interests and other costs, which means that they will bear financial costs for the time they cannot make money.

“The problem lies in the management and unreasonable calculation,” he commented, adding that the later the project is completed, the bigger the loss investors will incur.

An analyst said that he doubts the railway project can be completed by 2022 as promised.

He cited the Cat Linh – Ha Dong railway project as an example. The nvestor reported that 99 percent of the project’s works have finished and only 1 percent needs to be fulfilled. However, after 11 delays, the railway still cannot be put into operation. Meanwhile, Vietnam has to pay VND650 billion in debt a year.

As for the Hanoi-Nhon elevated railway project, the MRB said 99.52 percent of the works of the upper part of the railway has been completed, but the figures are 61.32 percent only for elevated stations and 5.01 percent for underground stations.

“The investor has had 11 delays just to fulfill one percent of works. So how many delays for only 5 percent of work?” he said.

He agreed with Tham that when trains are left idle, investors will have to pay many additional costs. For example, investors will have to hire workers to look after the trains.

Linh Ha

Railway project suspended after 15 years of implementation

Railway project suspended after 15 years of implementation

The 12 unprofitable projects under the management of the Ministry of Industry and Trade (MOIT), as well as projects under the management of the Ministry of Transport (MOT), need checking and reconsideration.

Railway needs more money to close illegal crossings

Railway needs more money to close illegal crossings

The Viet Nam Railway Corporation (VNR) said it needs VND2.5 trillion (US$108 million) to build fences, frontage roads, and eliminate illegal level crossings by 2025, reported online newspaper vietnamplus.vn.

 
 

Other News

.
Retail revenue likely up 3-4% by year-end, compared to 2020
Retail revenue likely up 3-4% by year-end, compared to 2020
BUSINESSicon  16/11/2021 

Thanks to an expected upturn in retail demand between now and the end of the year, the total revenue for 2021 is expected to have grown by three to four per cent, when compared with the previous year. 

Several listed foreign firms report lower profits and losses in 2020
Several listed foreign firms report lower profits and losses in 2020
BUSINESSicon  16/11/2021 

The majority of foreign-invested enterprises listed on Vietnam's stock market either posted lower after-tax profits or losses in 2020 due to the impact of the COVID-19.

Vietnam Airlines’s additional shares to be officially traded from Nov. 19
Vietnam Airlines’s additional shares to be officially traded from Nov. 19
BUSINESSicon  15/11/2021 

The Ho Chi Minh Stock Exchange (HoSE) has announced the additional listing of nearly 800 million shares of Vietnam Airlines Corporation, coded HVN, from November 15.

E-commerce promotes Vietnam's digital economy
E-commerce promotes Vietnam's digital economy
BUSINESSicon  16/11/2021 

While tourism has been hit hard by Covid-19, e-commerce has become the driving force for the digital economy in Vietnam this year.

HCM City distribution chains ensure food supply
HCM City distribution chains ensure food supply
BUSINESSicon  16/11/2021 

Nearly 1,600 workers at a supermarket chain tested positive for coronavirus when the fourth Covid wave in HCM City reached its peak over the summer. One of them died.

Farm exports to EU must follow food hygiene requirements: experts
Farm exports to EU must follow food hygiene requirements: experts
BUSINESSicon  16/11/2021 

After one year of EVFTA (EU-Vietnam Free Trade Agreement) implementation, Vietnam’s farm exports to the EU have increased sharply.

Four ‘economic commanders’ at NA forum share their vision about stimulus package
Four ‘economic commanders’ at NA forum share their vision about stimulus package
FEATUREicon  15/11/2021 

All four ministers of economy-related fields were asked to answer inquiries at the last National Assembly session, a rare occurrence in Vietnam.

Railway goods transport between Vietnam, China surges
Railway goods transport between Vietnam, China surges
BUSINESSicon  15/11/2021 

The total volume of goods traded between Vietnam and China going through the two border-gate railway stations of Lao Cai and Dong Dang reached more than 838,000 tonnes in the first nine months of 2021, up 43 percent year-on-year.

2021's profit outlook mostly reflected in stock prices: FiinGroup
2021's profit outlook mostly reflected in stock prices: FiinGroup
BUSINESSicon  15/11/2021 

The Vietnamese stock market’s valuation is equivalent to 18.2 times 2021’s profit and 14.3 times 2022’s profit forecast, said Fiin Trade, showing that the profit prospects for 2021 are reflected in share prices.

VN's growth and recovery require strong public investment: economists
VN's growth and recovery require strong public investment: economists
BUSINESSicon  15/11/2021 

Financing public investment to generate future growth and to speed up economic recovery post-COVID-19 remained Vietnam's most important challenge in the near future, said economists and policymakers. 

VIETNAM BUSINESS NEWS NOVEMBER 15
VIETNAM BUSINESS NEWS NOVEMBER 15
BUSINESSicon  15/11/2021 

More effective use of trade remedy tools needed when joining FTA: experts

Nursing home market nascent in Vietnam: Savills
Nursing home market nascent in Vietnam: Savills
BUSINESSicon  15/11/2021 

Demand for “housing with care” – a range of residential formats (which often provide care services) for older people – is increasing, but the market remains almost untouched in Vietnam, according to property consultancy Savills Vietnam.

Online shopping in VN to soar by year-end
Online shopping in VN to soar by year-end
BUSINESSicon  15/11/2021 

 Online shopping in Vietnam is expected to increase sharply near the end of the year. 

Market looks for new sources of goods as divestment from state enterprises proceeds
Market looks for new sources of goods as divestment from state enterprises proceeds
FEATUREicon  16/11/2021 

The situation changed in a positive direction when the stock market and and stock prices went up. This will enable divestment from SOEs and the equitization process to take place more easily.

Huge cash flow continues in Vietnam
Huge cash flow continues in Vietnam
FEATUREicon  15/11/2021 

Foreign capital flows are not only poured into Vietnam through FDI projects but also through buying shares in leading companies in the country.

Leeway for economic recovery, development
Leeway for economic recovery, development
BUSINESSicon  14/11/2021 

Government agencies are discussing how to launch a sufficiently large stimulus package to help the economy recover and develop after Covid-19. In the current context, is there room for this policy?

Norway to partner with Vietnam to "awaken" offshore wind power potential
Norway to partner with Vietnam to "awaken" offshore wind power potential
BUSINESSicon  14/11/2021 

Norwegian Ambassador to Vietnam Grete Løchen and Commercial Counsellor Arne-Kjetil Lian recently have handed over the 'Vietnam Supply Chain Study Report' to Vietnamese Minister of Industry and Trade Nguyen Hong Dien.

VN Rubber Association promoting certification grant toward building brand name
VN Rubber Association promoting certification grant toward building brand name
BUSINESSicon  14/11/2021 

To ensure the quality of rubber, a representative of the Vietnam Rubber Association said that it is promoting the grant of the certification Vietnam Rubber.

VIETNAM BUSINESS NEWS NOVEMBER 14
VIETNAM BUSINESS NEWS NOVEMBER 14
BUSINESSicon  14/11/2021 

Transport Ministry unveils prioritised waterway projects in 10 years

HCMC continues delaying seaport fee collection until April 2022
HCMC continues delaying seaport fee collection until April 2022
BUSINESSicon  13/11/2021 

HCM City will continue to extend the due date of collecting fees for using seaports and sea border gates infrastructure works in the city until April 1, 2022.

 
 
 
Leave your comment on an article

OR QUICK LOGIN