A consortium of seven South Korean companies, along with state-owned Vietnam Railways, will build a $1.2bn railway track in the Vietnam capital city of Hanoi, the Ministry of Transport has announced.
The 33.5km rail line will connect the city centre with its western outskirts and also involves building an express railway line linking Nha Trang city in the central region of Vietnam to Ho Chi Minh city.
Work will be carried out in two phases under a build-operate-transfer contract. The companies will invest $574m for the project’s 11.3km first phase and $653m for the remaing track during the second phase. The companies involved include Samsung, Daewoo, Ska, Kumho and Kangnam, among others.