‘Author’ Proposes $100 Billion High-Speed Rail Project: “We’re Not Bluffing”
The Mekolor Investment Alliance (Vietnam) and Great USA (US) have sent a dispatch to Prime Minister Pham Minh Chinh and Deputy Prime Minister Tran Hong Ha, proposing their investment in the North-South high-speed rail project.
The Mekolor-Great USA Investment Alliance proposes to develop the North-South high-speed rail project with direct investment from their own capital sources.
Mekolor Joint Stock Company is headquartered on Ly Tu Trong Street, An Cu Ward, Ninh Kieu District, Can Tho City, with Mr. Vo Xuan Truong as its legal representative.
At around 3:15 pm on June 9th, our reporters arrived at the company’s address and made some surprising discoveries. Mekolor Joint Stock Company is located deep inside Alley 24 (a small alley) on Ly Tu Trong Street.
 Headquarters of Mekolor Joint Stock Company. |
From the outside, the company doesn’t stand out, resembling many ordinary residential homes. There is a company signboard outside, but the door is closed, with a wind chime hanging above it. Some neighboring residents shared that they had no knowledge of Mekolor Joint Stock Company.
Mekolor is a joint-stock company established in Vietnam in 2016, specializing in trade promotion and introduction. Mekolor JSC is headquartered in Ninh Kieu District, Can Tho City, with Mr. Vo Xuan Truong as its legal representative.
In a conversation with VietNamNet reporters on the evening of June 9th, Mr. Vo Xuan Truong, Chairman of Mekolor Company and representative of the investment alliance, repeatedly made attention-grabbing statements.
“We have thoroughly studied the North-South high-speed rail project and see the investment opportunity. With our available resources, we believe we are capable of investing in the project alongside our partners,” stated Mr. Truong.
He boldly declared, “If successful, the $100 billion investment can be recouped within 15 years from the project’s operation.”
Headquarters of Mekolor Joint Stock Company, located deep inside Alley 24 on Ly Tu Trong Street, Ninh Kieu District, Can Tho City. |
A small signboard, about two hand spans long, bearing the company’s name, hangs in front of the premises.
|
 Alley 24, the entrance to the headquarters of Mekolor Joint Stock Company – a member of the alliance proposing the $100 billion high-speed rail project. |
While well-known enterprises like THACO and VinSpeed arrange for self-funding to account for about 20% of their project capital, the Mekolor (Vietnam) and Great USA (US) Alliance confidently claim to secure 100% of the required funds.
Regarding this, Mr. Truong shared, “I’m not saying our financial strength is better or worse than others. Every unit has its own financial background and considerations. However, we assert that we have prepared the necessary investment funds for the North-South high-speed rail project.”
“We are ready to prove that we have $100 billion at our disposal. The funds will be continuously disbursed to ensure the project’s progress,” declared the Chairman of Mekolor, who also acknowledged that as a new entity, they might be at a disadvantage compared to other potential investors. Nonetheless, he repeatedly emphasized their “available capital and technology partners.”
When asked how the alliance arranged for the aforementioned $100 billion, Mr. Truong referred to their economic initiative named “One Mekong One Meal” and explained that the North-South high-speed rail line was just a part of this initiative and thus fell within the corridor of funds “planned since that time.”
He further stated that the total capital mobilized for the “One Mekong One Meal” initiative amounted to 120,000 billion Euros.
This figure is unrealistic as it equals the world’s total GDP.
Addressing concerns about how the alliance could demonstrate its financial strength, Mr. Truong replied, “We have a separate account dedicated to project investment. In our report to the government, we also attached verified financial proof.”
However, when inquired about the verifying entity, he vaguely answered that it was “a reputable financial institution among the top 10 in the world.”
Hoà i Thanh
– 05:30 10/06/2025
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