Nearly $152 bln needed for rail projects by 2030

The Ministry of Transport (MoT) will give priority to developing railways as part of its green transition roadmap.

This is considered a safe, rapid, convenient and environmental-friendly mode of transport with reasonable cost, the ministry said at a seminar held on August 21 on developing green transportation.

Total investment capital needed for railway projects is estimated at $151.2 billion by 2030 and $312 billion by 2050, according to the ministry.

Focus will be made on building the North-South express railway and accelerating construction of urban rail routes in Hanoi and Ho Chi Minh City as well as investing in new rail routes connecting with sea ports and airports.

Priority will also be given to upgrading existing railways with green infrastructure.

The ministry will also promote investment in environmentally friendly maritime and inland waterway to help fulfill Vietnam’s commitment to net-zero emissions by 2050.