Prime Minister Pham Minh Chinh receives leaders of China Railway Corporation and China Power Construction Corporation

On the afternoon of September 16, during a series of activities in China, Prime Minister Pham Minh Chinh received Mr. Tran Van, Chairman of the Board of Directors of China Railway Corporation (CREC) and Mr. Wang Xiaojun, Deputy General Director of Power Construction Corporation of China (Power China).

In Vietnam, China Railway Group is the general contractor for the Hanoi urban railway project, Line 2 Cat Linh - Ha Dong.

Research and implementation of Hanoi – Lao Cai – Hai Phong railway project

China Railway Group is the general contractor for basic construction projects including: railways, roads, urban administration, urban railway traffic, irrigation, hydropower, airports, seaports, ports, manufacturing of industrial equipment and components, real estate development, mineral resource exploitation, highway business and financial investment...

To date, the Group has 381 branches in 105 countries with approximately 290,000 employees. The Group's revenue in 2022 is 1,150 billion yuan (159 million USD).

In Vietnam, China Railway Group is the general contractor for the Hanoi urban railway project, Cat Linh - Ha Dong line 2 with a total EPC contract value of 640 million USD; the Dak Nong wind power project with a total contract value of 18.1 million USD; and the tire factory project in Tien Giang with a total value of 5 million USD.

Prime Minister Pham Minh Chinh received Mr. Tran Van, Chairman of the Board of Directors of China Railway Corporation (CREC).

At the meeting, Mr. Tran Van, Chairman of CREC, reported to the Prime Minister on the Group's activities in Vietnam; said that the Group wishes to participate in investing in the construction of railway projects included in the Planning approved by the Vietnamese Government.

The Prime Minister highly appreciated the investment and business activities of China Railway Group globally, acknowledged the Group's experience operating in Vietnam and affirmed that the Vietnamese Government welcomes foreign enterprises in general and Chinese enterprises in particular to expand their investment and business in Vietnam.

The Prime Minister said that Vietnam has identified infrastructure development as one of its strategic breakthroughs, including transport infrastructure, including railways. The Prime Minister and the President discussed the possibility of studying options for building a 388km Hanoi-Lao Cai-Hai Phong railway line.

Welcoming the possibility of the Group participating in this project, the Prime Minister suggested that immediately after the meeting, Vietnamese agencies such as the Ministry of Transport, the Ministry of Planning and Investment, the State Capital Management Committee at Enterprises and the Group discuss specifically the possibility of implementing the project in design, capital arrangement, construction, management... in the most suitable form, most beneficial for both sides. The Government will have opinions on issues within its authority. The spirit is to ensure progress and quality, safety, environmental sanitation, promises must be done, commitments must be implemented, with specific and measurable results.

The Prime Minister asked PowerChina Group to work specifically with relevant agencies and the Vietnamese side to implement projects in the spirit of harmonious benefits and shared risks.

Welcome PowerChina to participate in infrastructure and energy projects in Vietnam

PowerChina has integrated capabilities to provide investment and financing, planning design, engineering construction, equipment manufacturing and operations management for clean and low-carbon energy, water resources, environment and infrastructure. The group ranks 100th on the Fortune Global 500 list and 29th among China's top 500 enterprises in 2022.

PowerChina entered the Vietnamese market in 2000, participating in the construction of Lai Chau and Son La hydropower projects, Vinh Tan coastal thermal power center, and being the general contractor of wind and solar power projects with a total capacity of 7 GW. The total contract value of the above projects reached more than 6.5 billion USD.

At the meeting, the group's leaders reported to the Prime Minister on PowerChina's activities in Vietnam, plans to invest in power projects and participate in investing in Vietnam's infrastructure construction sector.

The Prime Minister highly appreciated Power China's investment and business activities globally; welcomed the Group's plan to expand investment and business in Vietnam in the coming time, in line with Vietnam's strategic breakthrough in infrastructure, including transport infrastructure and energy infrastructure.

The Prime Minister requested the Group to work specifically with the relevant authorities and the Vietnamese side to implement projects in the spirit of harmonious benefits and shared risks, especially developing wind and solar power in a synchronous manner, both source and load, with appropriate costs.

The Prime Minister also welcomed the Group's participation in implementing high-speed railway projects in Vietnam in an appropriate manner, and suggested that the Group discuss with Vietnamese authorities to find immediate solutions that are feasible and effective.

At the meetings, the Prime Minister emphasized that the cooperation in implementing infrastructure projects connecting Vietnam and China, including high-speed railway projects that the two groups are interested in, has a political basis in the good relationship between the two countries. It is important to implement them specifically to bring practical benefits to all parties in the spirit of harmonizing the interests of the State, people and businesses, while sharing risks.

These projects will contribute to promoting cooperation in the two economic corridors "Kunming-Lao Cai-Hanoi-Hai Phong", "Nanning-Lang Son-Hanoi-Hai Phong" and "Tonkin Gulf economic belt", enhancing economic and trade cooperation between Vietnam and China.

Source: https://baoquocte.vn/thu-tuong-pham-minh-chinh-tiep-lanh-dao-tap-doan-duong-sat-va-tap-doan-xay-dung-dien-luc-trung-quoc-242293.html