The Government has just sent Document No. 685/TTr-CP to the National Assembly on the investment policy for the North-South high-speed railway project.
According to the report, based on the preliminary selection of technology, techniques, investment scale, and reference to investment rates of high-speed railway projects that have been and are being implemented in the world, the preliminary total investment of the project is about 1,713,548 billion VND (about 67.34 billion USD).
Estimated cost items include compensation, support and resettlement costs of 150,148 billion VND (about 5.9 billion USD), construction costs of 846,014 billion VND (about 33.25 billion USD), and equipment costs of 280,771 billion VND (about 11.03 billion USD).
Next is project management cost of 20,282 billion VND (about $0.8 billion), construction investment consulting cost of 91,946 billion VND (about 3.61 billion USD), other costs of 22,986 billion VND (about 0.9 billion USD), contingency cost (including loan interest) of 301,401 billion VND (about 11.85 billion USD).
The high-speed railway line on the North-South axis is expected to invest about 60% in bridges, 10% in tunnels and 30% in ground, so the project investment rate is about 43.7 million USD/km.
The government stated that this is the average level compared to some high-speed railway lines in the world with the same operating speed range when converted to 2024.
Total investment is calculated according to construction law regulations and current macroeconomic conditions.
The cost of site clearance, approximately 5.9 billion USD, will come from the central budget. To reduce the burden on the budget, the Government proposes that 50% of the revenue from land funds in the vicinity of the station be paid to the central budget, while the remaining 50% will be retained by the provincial government.
It is expected that state budget capital will be allocated in medium-term public investment plans to complete the project by 2035.
To successfully implement and soon complete the project, the Government proposed policies aimed at ensuring feasibility and accelerating implementation progress, mobilizing investment resources; decentralizing investment authority; training human resources; and developing industry.
The Government proposes 19 specific policies, divided into the following groups:
Policy 1 on project capital structure.
Policy 2 on capital allocation and adjustment of public investment plans to allocate capital for projects.
Policy 3 on assessing the project's ability to balance capital.
Policy 4 on development, exploitation of land funds and added value from land in the vicinity of high-speed railway stations.
Policy 5 on mineral exploitation for common construction materials serving projects.
Policy 6 on construction solid waste disposal sites.
Policy 7 on science and technology development and human resource recruitment for the project.
Policy 8 on industrial development and technology transfer.
Policy 9 on division of project components.
Policy 10 on authority to decide on adjusting investment policies and projects.
Policy 11 on selecting architectural options for the project's station.
Policy 12 on compensation, resettlement support and site clearance.
Policy 13 on establishing a master technical design instead of a basic design in the project pre-feasibility study report.
Policy 14 on converting forest use to other purposes and temporary use of forests.
Policy 15 on norms and cost items.
Policy 16 on capital allocation for projects.
Policy 17 on mechanisms and policies to ensure national defense and security; prevent corruption and negativity.
Policy 18 on promulgating resolutions containing legal regulations to guide the implementation of specific and special mechanisms and policies of the project.
Policy 19 on supplementing specific and special mechanisms and policies after the National Assembly decides on project investment policies.
