Both ministries will look into assessments by  consultants, ask the Government for instructions and clarify the feasibility of the project.

The double-track railway would be needed to facilitate the transport of cargo and passengers between the northern and southern regions, as the current railway can only carry 6% of passengers and 1.4% of cargo on this route.

Upon completion, this high-speed railway would be able to handle a large volume of cargo and create favorable conditions for the socio-economic development of the localities along the route and the whole country.

Around 50 passenger and 20 freight stations will be set up along the line, according to the proposed plan.

The Ministry of Planning and Investment suggested carrying out the project under the public-private partnership (PPP) and mobilizing funds through auctions of land near the 50 stations along the route, the State budget, and private investment capital.

In October, the Ministry of Transport presented two options to develop the North-South high-speed railway line after the plan to build it with a design speed of 350 kph was rejected.

The first option was to upgrade the existing railway line into a double-track one with a speed of 180 kph for transporting passengers and 120 kph for carrying cargo. This plan required an investment of around US$42 billion.

The second one was to build a double-track line with a maximum speed of 180-225 kph to transport cargo and passengers, requiring an investment of US$64.8 billion.

Source: Saigon Times