Vietnam considers $58.7 billion high-speed railway

By Reuters August 14, 2022 | 06:26 pm PT

A vendor walks on a railway track as tourists gather on either side, in the Old Quarter of Hanoi, September 28, 2019. Photo by Reuters/Kham

Vietnam is considering building a high-speed railway that runs along the country's length with a possible price tag of up to $58.7 billion, the government said on Sunday.

The Southeast Asian country's transport ministry will next month submit a proposal to build the 1,545 km (960 miles) railway to the Politburo, the powerful decision-making body of the ruling Communist Party of Vietnam, the government said in a news release.

Vietnam, a regional manufacturing hub, is ramping up its investment in transport infrastructure to support its fast-growing economy.

The first two sections with combined length of 665 km (413 miles) and total investment of $24.72 billion would be open to traffic by 2032, the government said, adding that the entire project would be completed by 2045-2050.