Ministry of Construction responds to 13 firms on $67 billion railway project

Ministry of Construction responds to 13 firms on $67 billion railway project

The Ministry of Construction tells 13 interested firms they will be notified once the investment model for Việt Nam’s $67 billion high-speed rail is finalised.

Designed for speeds of up to 350 kilometres per hour, the North-South high-speed railway project aims to cut travel time between the two cities from 32 hours to about five hours. — Photo nvsk.vnanet.vn

The Ministry of Construction has responded to 13 companies expressing interest in participating in the US$67 billion North-South high-speed railway project, saying it will notify them once the investment model is finalised.

The ministry is currently preparing a feasibility study for the project following National Assembly resolutions passed in November 2024 and a Government resolution from April 2025, according to an official statement sent to the interested firms.

If the project proceeds under a public-private partnership or commercial investment model, companies will be notified and invited to submit proposals in accordance with regulations, the ministry said.

Among the 13 companies are major Vietnamese firms including Truong Hai Group (THACO), Vietnam Railway Transport Corporation, Vinaconey Group, Thang Long National Construction JSC, Quang Trung Industrial Group, DISCOVERY Group and a consortium of Mekolor and Great USA investors. 

Notably absent from the current list is Vingroup, which withdrew its investment registration in late December to focus on other major projects, including an Olympic sports complex in Hà Nội and high-speed rail lines to Quảng Ninh and Cần Giờ.

The ministry has transferred responsibility for preparing the feasibility study to the Thăng Long Project Management Board, which will oversee quality, timeline and costs.

The 1,541-kilometre railway will connect Hà Nội and HCM City, passing through 20 provinces and cities with 23 passenger stations and five freight stations. Designed for speeds of up to 350 kilometres per hour, the project aims to cut travel time between the two cities from 32 hours to about five hours.

Construction is scheduled to begin by the end of 2026, with completion by 2035. Twelve of the 15 provinces along the route have already begun construction of resettlement areas for displaced residents, while the Vietnam Electricity Group is reviewing intersections with the planned railway line.

The ministry is required to carefully evaluate technical and economic factors, operational management and technology transfer and select the investment model – whether public, PPP or commercial – in a transparent, scientific manner, while ensuring national interests and preventing corruption.

First proposed in 2010, the railway project was rejected by the National Assembly due to cost concerns before being revived and approved last year.

The ministry said it is ready to provide necessary information to interested businesses as the project advances. 

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