CT Group Corporation has submitted a proposal to Prime Minister Pham Minh Chinh, seeking approval to conduct a pre-feasibility study and secure investment for the Ho Chi Minh City – Can Tho – Ca Mau railway project under a public-private partnership (PPP) model, as reported by Investment Newspaper.
The Ho Chi Minh City – Can Tho – Ca Mau railway will commence at Thu Thiem Station (Ho Chi Minh City’s central station), with Phase 1 ending at Cai Rang Station in Can Tho City and Phase 2 concluding at Dat Mui Station in Ca Mau.
Spanning Ho Chi Minh City, Tay Ninh, Dong Thap, Vinh Long, Can Tho, and Ca Mau, the project’s Phase 1 is expected to cover 160km, while Phase 2 will extend approximately 120km.
Designed as a double-track railway with a 1,435mm gauge and electrification, the line will accommodate both passenger and freight services at speeds of 200-250 km/h, with potential upgrades to 300-350 km/h under consideration.
The Ho Chi Minh City – Can Tho – Ca Mau railway is designed for speeds of 200-250 km/h.
Regarding financing, CT Group plans to collaborate with reputable international partners to secure investment, with an estimated total cost of approximately $12 billion (excluding land clearance compensation and resettlement costs covered by the state budget).
The company proposes a capital structure under a pilot PPP mechanism, with 80% sourced from the state budget through medium-term public investment plans and other legal funds, and 20% from investor equity and other legal mobilization.
CT Group suggests contributing 75% of revenue from land development projects, including 400 hectares near Tan Kien Station in Binh Chanh (Ho Chi Minh City), 200 hectares in Can Tho’s railway urban area, and 200 hectares near Ca Mau’s terminal station (totaling VND 300 trillion, contributing approximately VND 250 trillion).
Additionally, the company proposes using proceeds from land use rights auctions in TOD urban areas along the route to fund 20-25% of the total investment.
To execute the project, CT Group requests special mechanisms and policies, such as import tax exemptions for equipment and spare parts, authority to set competitive passenger and freight fares, and preferential loans covering 40-50% of the total investment.
In terms of timeline, the company aims to complete the pre-feasibility study in 2025-2026, finalize the feasibility study and environmental impact assessment in 2026-2027, commence construction in 2027, and begin commercial operations between 2031 and 2032.
Recently, the My Thuan Project Management Board submitted a pre-feasibility study for the Ho Chi Minh City – Can Tho railway to the Ministry of Construction. The 175.2km project will start at An Binh Station in Di An Ward, Ho Chi Minh City, and end at Can Tho Station in Hung Phu Ward, Can Tho City.
This new railway will serve both passenger and freight transport, featuring double tracks, a 1,435mm gauge, electrification, and a design speed of 160 km/h.
Phase 1 will focus on single-track construction with an investment of approximately VND 173.643 trillion, while Phase 2 (post-2030) will complete the double-track system at a cost of around VND 64.973 trillion.
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