With 92.48% of delegates in favor, the National Assembly approved the $67.3 billion North-South high-speed railway project. (illustrative photo - VGP)
On the afternoon of November 30, with 92.48% of delegates in favor, the 8th Session of the 15th National Assembly approved the investment policy for the high-speed railway project on the North-South axis in the form of public investment with a preliminary total investment of about 67.3 billion USD.
The high-speed railway project on the North-South axis has a total route length of about 1,541 km; starting point at Ngoc Hoi station (Hanoi), ending point at Thu Thiem station (Ho Chi Minh City), passing through 20 provinces and centrally-run cities including: Hanoi, Ha Nam, Nam Dinh, Ninh Binh, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Hue, Da Nang, Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Binh Thuan, Dong Nai, Ho Chi Minh City.
The scale of the new investment for the entire double-track line is 1,435 mm gauge, designed speed is 350 km/h, load capacity is 22.5 tons/axle; 23 passenger stations, 5 freight stations. The high-speed railway transports passengers, meets dual-use requirements for national defense and security, and can transport goods when necessary.
The total land use requirement of the project is approximately 10,827 hectares, including: rice land of approximately 3,655 hectares, forestry land of approximately 2,567 hectares and other types of land according to the provisions of the land law of approximately 4,605 hectares. The estimated number of resettled people is approximately 120,836 people.
The total preliminary investment is 1.71 million billion VND (equivalent to 67.3 billion USD) from the state budget allocated in the medium-term public investment plans and other legal capital sources.
Implementation progress: prepare feasibility study report from 2025, strive to basically complete the project by 2035.
The project is subject to specific and special mechanisms and policies, such as during the implementation process, the Prime Minister is allowed to decide to issue government bonds to supplement the annual budget and investment plan for the project in case the annual state budget does not meet the progress.
At the same time, the Government is allowed to mobilize official development assistance (ODA) capital and foreign concessional loans and is not required to prepare project proposals using ODA capital and foreign concessional loans; regulations of foreign donors apply.
In addition, it is possible to use increased revenue, annual central budget savings (if any) and other legal capital sources.
Regarding the development, exploitation of land funds and added value from land in the vicinity of high-speed railway stations, the resolution allows the provincial People's Committee to organize the establishment and adjustment of zoning plans and detailed plans for the vicinity of railway stations to determine the location, boundaries and area of recovered land.
Notably, organizations and individuals presiding over scientific and technological activities serving the project are allowed to decide on limited bidding, designated bidding, and ordering to select contractors to provide services and goods.
Enterprises enjoy incentives as high-tech enterprises according to the provisions of the law on high technology during the period of performing scientific and technological tasks serving the project...
Regarding regulations on industrial development and technology transfer, the Government stipulates criteria for selecting organizations, state-owned enterprises assigned tasks or other Vietnamese enterprises to place orders for the provision of railway industrial services and goods; research, application, and technology transfer.
The Prime Minister decides on the list of railway industrial services and goods assigned to state-owned organizations and enterprises or ordered by Vietnamese organizations and enterprises.
General contractors and subcontractors must give priority to using products, goods and services that can be produced and supplied domestically.
For international bidding packages, the bidding documents must include commitments from the general contractor and foreign contractors on technology transfer and human resource training for Vietnamese partners to master management, operation, exploitation and maintenance; and gradually master the technology.
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