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Railway project

CONSTRUCTION of a China-funded elevated railway project running through the Vietnamese capital of Hanoi will start in the first half of next year, a company source said yesterday. The contract of the project was inked yesterday by the Railway Bureau of the Vietnamese Communication Ministry and The Sixth Engineering Bureau of the China Railway Group. The Chinese company is the contractor of the project and responsible for engineering, procurement and construction. The project, with a total investment of US$550 million, is funded by US$170 million in Chinese government loans and US$250 million credit from the Export-Import Bank of China. The rest is raised by the Vietnamese side.


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