Vietnam's Vingroup may invest in railways upgrade: reports

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Vietnam's Vingroup may invest in railways upgrade: reports

Reuters - 7/25/2015 2:18:27 PM

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The Vietnam Railways (VNR) has identified conglomerate Vingroup as a potential investor to upgrade some stations the state monopoly controls, local media reported on Friday.

Vingroup may renovate train and passenger sections, subject to transport ministry approvals, before handing over the operations to VNR, while the remaining areas could be used for commercial and services business, online newspaper VnExpress said, citing VNR.

Vingroup and VNR are talking on ways to improve train stations in capital Hanoi and Ho Chi Minh City, while the company wants a build-transfer investment in Da Nang railway station, the transport ministry-run Giao Thong news website reported earlier this week.

Vingroup officials could not immediately be reached for comment.

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