Transport Minister urges pilot social investment in railways

Minister of Transport Dinh La Thang made a field trip to Yen Vien railway station in Hanoi and instructed Vietnam Railways (VNR) to speed up implementation of a pilot social investment project to upgrade the station’s goods yard on Thursday.

A North South train (Illustrative photo: SGGP)

The project would create a premise for social investment promotion in railways nationwide, he said.

Minister Dinh La Thang added that the station’s infrastructure system has been outdated and unable to meet requirements of the railways industry' modernization.

He instructed VNR and related sides to give an investment project which will balance benefits between investors and the state and facilitate investors’ works to speed up the Yen Vien station upgrading project.

The project's Investor Railway Logistics Company said it would spend VND90 billion (US$4.02 million) on upgrading the cargo yard, building a management center, buying specialized crane system and management software in the first phase from October this year till June next year.

Once being built, the station’s cargo loading capacity will increase by 3-5 times to become a capable supporter to Hai Phong and Cai Lan seaports and expand transport market share of the railways industry.

Under the project, the company will be permitted to use and exploit a logistics center south of the Yen Vien station within 23 years. It will be eligible to collect container lift charges and other added value service fees to reclaim investment capital and make profit.

By Bich Quyen – Translated by Hai Mien

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