Hanoi, 20.02. (Prensa Latina) Vietnam is now working to ensure road safety and improve the quality of railway infrastructure and is committing $315 million this year to that end.
The investment aims to improve the railway sections between this capital and Ho Chi Minh City, Hanoi-Vinh, Vinh-Nha Trang and Nha Trang-Saigon, as well as the railway stations in the north of the country and the Duong railway bridge, divided the Ministry of Transport.
Regarding the disbursement for upgrading the railway system in the Khe Net Pass area of Quang Binh province, it is being mobilized by South Korea’s official development assistance, he added.
These investments, as the portfolio quoted by the VNA news agency indicates, are aimed at ensuring traffic safety, improving the quality of railway infrastructure and its capacity, thereby creating favorable conditions for the effective use of this means of passenger and freight transport.
According to the Railway System Development Plan for 2021-2030 with a Vision to 2050 approved in October 2021, Vietnam aims to build nine new railways by 2030 with a total length of 2,362 kilometers.
In addition, the seven existing routes with a total length of 2,440 kilometers will be updated.
It is estimated that the total capital required to improve and build railroads will be approximately $10.5 billion.
By 2030, the volume of cargo transported by rail will reach 11.8 million tons, about 0.27 percent of the market share, and the number of passengers will be about 460 million, about 4.40 percent of the total.