Vietnam's National Assembly has approved a resolution on the investment policy for an US$8 billion project to build a new railway linking the country with China.
On Wednesday morning, 455 out of 459 parliament delegates voted in favor of passing the resolution on the investment policy for the Lao Cai-Hanoi-Hai Phong railway project, with three against and one abstention.
The 390.9 km railway will run from the border connection between China and Vietnam’s Lao Cai Province, through the capital city of Hanoi, to the Lach Huyen International Port area in Hai Phong City.
The railway will feature a 1,435 millimetre gauge and allow trains to reach speeds of up to 160 kph.
It is designed to transport both passengers and cargo.
The project will require approximately 2,632 hectares of land, and an estimated 19,136 people will need to be relocated.
Construction of the railway is expected to start this year and be completed by 2030.
The government plans to secure loans from China to partially fund the project, estimated to cost over $8 billion.
Vietnam has been working to upgrade its aging railway infrastructure and has turned to China for both funding and technology.
“Vietnam’s current railway system is outdated, and the country needs a new system to support its economic development,” Minister of Transport Tran Hong Minh told the parliament last Thursday.
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