Ho Chi Minh City plans to invest US$9 billion in a high-speed railway line to the Mekong Delta city of Can Tho.
The municipal administration said Tuesday it has agreed with Vietnam Railway Administration to save 42 hectares in the outlying Binh Chanh District to build the main cargo station.
It is considering either the Saigon Railway Station in District 3 or Thu Thiem New Urban Area in District 2 for the main passenger station.
The high speed railway is designed to be more than 1.4 meters wide, running 160 kilometers to Can Tho. Trains are expected to run at speeds of 200 kilometers per hour.
Several parts of the railway route that pass the cities' downtown areas will be built underground.
The city has recently called for foreign direct investment into its infrastructure projects as it is suffering a severe lack of funds and several major projects have been delayed.
The city needs VND46.8 trillion (US$2.23 billion) to implement its transportation infrastructure projects, but it only has VND5.6 trillion on hand, Bui Xuan Cuong, deputy director of HCMC Transport Department, told Thanh Nien.
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