Canada's Vision Transportation Group proposes developing metro project

VTG chairman Richard Courey submitted the overall report to Vietnamese Deputy Prime Minister Trinh Dinh Dung

In the framework of the meeting with Deputy Prime Minister Trinh Dinh Dung, VTG chairman Richard Courey submitted the overall report on the method to develop the project, the technology to be used, the investment schedule, as well as a number of proposals to the government.

The deputy prime minister asked VTG to work with the Hanoi People’s Committee, ministries, and relevant authorities to study investment procedures as well as the proposal before submitting a detailed report to the government.

DPM Dung also proposed VTG to study other railway infrastructure projects, especially the North-South Express Railway project.

The urban railway project linking Noi Bai with the West Lake area is one of ten urban railway projects approved by Prime Minister Nguyen Xuan Phuc to develop in Hanoi under the capital’s transport scheme until 2030 with a vision towards 2050.

In the 2017-2020 period, Hanoi has found investors to develop four railway routes, namely Noi Bai International Airport-South Thang Long (18 kilometres), Thuong Dinh-2.5 Ring Road-Buoi (7km), Van Cao-Hoa Lac (38.4km), and Nhon-Troi-Dan Phuong (5.9km).

At present, five domestic investors and two foreign investors have registered to invest in Hanoi’s urban railway projects.

These seven investors are Vingroup, Xuan Thanh Corporation, Lung Lo 5 Company, Tan Hoang Minh Group, Licogi Company, and MIK Group JSC, Lotte Group from Korea and OJSC Mosmetrostroy from Russia.

Hanoi currently has four urban railway routes, two of which—Ngoc Hoi-Yen Vien and Cat Linh-Ha Dong—are invested by the Ministry of Transport. The remaining two—South Thang Long-Tran Hung Dao and Nhon-Hanoi Railway Station—are invested by Hanoi authorities and are currently under construction.

Canadian-based VTG is a master developer of infrastructure projects specialising in development and implementation under the models of private investment (PI) and public-private partnership (PPP).

Since 1992, VTG has been involved in more than 165 major infrastructure projects with a total investment capital sum of $35 billion in 42 different countries.

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