Chinese firm wants to invest North-South high-speed railway
China Communications Construction Co. Ltd. (CCCC) has announced that it wants to invest in several major infrastructure projects in Vietnam, including the North-South high-speed railway. China Communications Construction Co. Ltd. (CCCC) has announced plans to invest in several major infrastructure projects in Vietnam, including the North-South high-speed railway. The proposal was made by Bai Yinzhan, director of China Harbor Engineering Co., a subsidiary of the multinational engineering and construction giant CCCC, during a meeting with the Minister of Planning and Investment Nguyen Chi Dung at the Belt and Road Forum for International Cooperation in China. The project would have a length of over 1,500 km and pass through 20 localities, with a total investment of over US$61.6 billion. The company has been operating in Vietnam since 1996 and has successfully implemented over 20 Vietnamese infrastructure and energy projects.
Published : 2 years ago by 1700000306, VnExpress in Business Finance
China Communications Construction Co. Ltd. (CCCC) has announced that it wants to invest in several major infrastructure projects in Vietnam, including the North-South high-speed railway.
The proposal was made by Bai Yinzhan, director of China Harbor Engineering Co. Ltd., a subsidiary of the multinational engineering and construction giant CCCC, during a meeting with Minister of Planning and Investment Nguyen Chi Dung at the Belt and Road Forum for International Cooperation in China on Thursday.
CCCC has been operating in Vietnam since 1996.
To date, it has successfully implemented more than 20 Vietnamese infrastructure and energy projects, including the Hanoi– Hai Phong Expressway and the Cai Mep – Thi Vai Port, as well as the Vinh Tan - Binh Thuan thermal power plant and wind power projects, Bai said.
The firm is now expressing keen interest in taking part in other major transport infrastructure development projects in Vietnam, such as the North-South High-Speed Railway.
The project would have a length of more than 1,500 km and pass through 20 localities, with a total investment of more than US$61.6 billion, according to preliminary plans.
The Politburo has identified the North-South High-Speed Railway as a "backbone" axis that will connect urban railways, major economic centers, seaports, airports, and international borders.
In addition, the Chinese construction giant also mentioned a number of other projects, including construction of Ho Chi Minh City - Trung Luong Expressway expansion and the Ho Chi Minh City - Moc Bai, Dong Dang - Tra Linh Expressway, which would run along the Chinese border between the far northern provinces of Lang Son and Cao Bang, as well as other wind power development projects.
Minister Dung said Vietnam encourages corporations with significant financial capacity, modern technology and effective high-level management to participate in bidding for key infrastructure projects.
He also pointed out, however, some previous shortcomings at some infrastructure projects carried out by Chinese businesses in Vietnam.
Dung hoped that CCCC, as a major contractor and a strategic investor in Vietnam, would share its expertise, provide training, and transfer technology to assist Vietnam in developing and managing infrastructure effectively and sustainably, thus contributing to the two countries’ cooperation in infrastructural development.
Topics: Economy