The Vietnamese Government Office has issued a document to the Minister of Construction, conveying Prime Minister Pham Minh Chinh’s directives regarding CT Group Corporation’s proposal. The proposal involves conducting a pre-feasibility study and seeking investment approval for the Ho Chi Minh City – Can Tho – Ca Mau railway project under a Public-Private Partnership (PPP) model.
Accordingly, the Prime Minister has tasked the Ministry of Construction with reviewing CT Group’s proposal and guiding the company to comply with legal regulations. The project must adhere to principles of transparency, harmonized interests among the government, citizens, and businesses, and shared risks.
In October, CT Group submitted a proposal to Prime Minister Pham Minh Chinh, seeking approval to conduct a pre-feasibility study and invest in the Ho Chi Minh City – Can Tho – Ca Mau railway project.
CT Group’s proposal outlines a double-track, electrified railway with a standard gauge of 1,435 mm, designed for both passenger and freight services. The proposed speed ranges from 200 to 250 km/h, with potential for 300 to 350 km/h.
The project’s Phase 1 will span approximately 160 km from Thu Thiem Station (Ho Chi Minh City) to Cai Rang Station (Can Tho), while Phase 2 will cover 120 km to Dat Mui Station (Ca Mau). The railway will pass through six provinces and cities: Ho Chi Minh City, Tay Ninh, Dong Thap, Vinh Long, Can Tho, and Ca Mau.
CT Group plans to collaborate with reputable international partners to secure a preliminary investment of $12 billion, excluding land acquisition and resettlement costs.
The company has offered to self-fund the pre-feasibility study and contribute 20% of the investment through equity and legal fundraising. The remaining 80% will come from the state budget and other lawful sources.
CT Group anticipates contributing approximately 75% of revenue from land development projects near key stations, totaling around VND 250 trillion.
The company has partnered with China Railway Design Corporation (CRDC) to prepare the pre-feasibility study.
If approved, CT Group aims to complete the pre-feasibility study by 2025–2026, followed by a feasibility study and environmental impact assessment in 2026–2027. Construction is slated to begin in 2027, with commercial operations starting between 2031 and 2032.
Prime Minister Pham Minh Chinh meets with CT Group representatives. Photo: Nhat Bac/VGP
Founded in 1992 by Tran Kim Chung as Saigon Trading Company, CT Group evolved into a diversified conglomerate in 2006. It now comprises over 68 subsidiaries across sectors including real estate and high technology.
The group focuses on nine core Industry 4.0 technologies: semiconductors, drones, AI, ESG with carbon credits, green digital currency, electric vehicles, new energy, gene-cell technology, and quantum computing.
On August 12, CT Group partnered with Airbility to export 5,000 drone transport devices and assemble 100 million semiconductor chips for Imagis. The group aims to produce 100 million chips annually by 2027.
During an August meeting, Prime Minister Pham Minh Chinh praised CT Group’s proactive investment and alignment with Vietnam’s technology development strategy. He urged the group to continue advancing in science, innovation, and digital transformation, while contributing to policy refinement and delivering tangible, measurable results.
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