Hoa Phat Ready to Produce Steel for High-Speed Railways
On the morning of September 21, the Government hosted a conference on solutions to contribute to the country’s socio-economic development, with the participation of leading enterprises such as Vingroup, Hoa Phat, Thaco, KN Holdings, Sungroup, T&T, Geleximco, Minh Phu, Masan, Sovico, TH, and REE.
At the conference, Mr. Tran Dinh Long, Chairman of Hoa Phat Group, emphasized the importance of the North-South high-speed railway project, with a total investment of up to $70 billion, affirming it as a strategic infrastructure project for the nation. He also expressed Hoa Phat’s desire to bid for steel supply for this project.
Mr. Tran Dinh Long at the Conference. Photo: VGP/Nhat Bac
Mr. Long shared insights into the position of Vietnam’s steel industry, currently leading in Southeast Asia and ranking 12th globally in terms of output, thanks to strong support from the government, ministries, banks, and the relentless efforts of enterprises.
Given the current context, Mr. Long believes that many difficulties and obstacles faced by businesses have been addressed, creating more favorable conditions for operations. He expects management agencies to further accelerate the process of institutional reform, stating that “each small step will bring significant benefits to businesses.”
Moreover, Mr. Long stated that Hoa Phat would proactively engage in projects related to railways and the railway industry, underscoring the importance of having a master plan, a clear legal corridor, and initial designs to define the specific roles of sectors like steel, real estate, and manufacturing.
The Chairman of Hoa Phat affirmed the group’s full technical capacity to produce steel for the tracks of high-speed railway projects.
Previously, at the 2024 Annual General Meeting of Shareholders, he shared his ambition to produce rails for high-speed trains and revealed that Hoa Phat had begun researching and manufacturing the first rails to serve the North-South high-speed railway project.
Government to Commission Enterprises for High-Speed Railway Construction
The Prime Minister affirmed, “We have great trust and pride in the growth and strength of the Vietnamese business community, including the enterprises present at this conference.” Photo: VGP/Nhat Bac
At the conference, in his concluding remarks, Prime Minister Pham Minh Chinh affirmed, “We have great trust and pride in the growth and strength of the Vietnamese business community, including the enterprises present at this conference.”
Regarding the suggestions and proposals of the enterprises, the Prime Minister instructed the ministries and sectors to listen, receive, and resolve them with immediate and long-term solutions. He emphasized a spirit of “saying and doing,” keeping promises, and ensuring “harmonious interests and shared risks,” balancing the interests of the people, businesses, and the State.
The Prime Minister clarified that the Government appreciated the enterprises’ proposals to assign specific tasks in constructing the North-South high-speed railway, urban railways, steel production, and building expressways.
Based on these proposals, the relevant agencies will study, assign tasks, and commission enterprises to implement projects in these key areas.
In addition to this conference, the Prime Minister instructed the ministries and sectors to organize thematic conferences with enterprises in fields such as natural resources and the environment, transport, taxes, and investment, adhering to the principle of “saying and doing,” and ensuring tangible outcomes and measurable results.
A glimpse of Vietnam’s future high-speed railway. Illustration: AI ChatGPT
The proposed North-South high-speed railway project has a total length of 1,541 km and an estimated investment of $60-70 billion. It features a double-track structure, a standard gauge of 1,435 mm, electrification, and infrastructure designed for a maximum speed of 350 km/h.
The line will originate from Ngoc Hoi Station in Hanoi, passing through 20 provinces and cities, and terminating at Thu Thiem Station in Ho Chi Minh City. The entire route will have 23 passenger stations, with an average distance of 67 km between stations, along with 5 cargo stations located in major trading areas.
The Ministry of Transport proposes prioritizing resources to commence the Hanoi-Vinh and Ho Chi Minh City-Nha Trang sections, totaling approximately 642 km, by the end of 2027. The Vinh-Nha Trang section, spanning about 899 km, is expected to begin construction before 2030, with the goal of completing the entire line by 2035.
The Central Executive Committee of the Party has approved the investment policy for the high-speed railway project on the North-South axis. The project will also be submitted to the National Assembly at the 8th session of the 15th National Assembly.
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