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China’s leading firms eager to join railway, energy projects in Vietnam

China’s leading firms eager to join railway, energy projects in Vietnam

Tuesday, June 25, 2024, 15:44 GMT+7
China’s leading firms eager to join railway, energy projects in Vietnam
Deputy general manager of Power Construction Corporation of China (PowerChina) Wang Xiaojun (L) shakes hands with Vietnam’s Prime Minister Pham Minh Chinh at a meeting in Dalian City of China’s Liaoning Province on June 24, 2024. Photo: Doan Bac / Tuoi Tre

Two leading Chinese businesses expressed their wishes to engage in large-scale projects for railways and renewable energy in Vietnam at their separate meetings with Vietnamese Prime Minister Pham Minh Chinh on Monday.

The meetings took place as part of PM Chinh’s trip to China to attend the 15th World Economic Forum (WEF) Annual Meeting of the New Champions and working sessions with Chinese officials from June 24 to 27. 

At the talks with Sun Rongkun, chairman of China Railway Rolling Stock Corporation (CRRC)’s Dalian Locomotive and Rolling Stock Co. Ltd. (CRRC Dalian), the Vietnamese government chief said Vietnam and China need to further promote cooperation in railway development, which is among Vietnam’s currently urgent needs.

Vietnam now has more than 2,000km of railways with over 300 stations, but the country’s railway sector has yet to operate them in a really efficient way.

He noted that the railway has advantages over other transportation types thanks to its affordable transport charges and suitability for carrying a number of goods.

As part of the Vietnam-China joint statement on continuing deepening and elevating the comprehensive strategic cooperative partnership and building a Vietnam-China community with a shared future, issued in December 2023, the two sides agreed to promote standard-gauge railway connectivity across their shared border, PM Chinh told Sun.

Vietnam also expects to continue developing urban train routes in Hanoi and Ho Chi Minh City, Chinh added.

The prime minister recommended that CRRC Dalian collaborate with the Vietnam Railways Corporation and other Vietnamese enterprises in manufacturing locomotives and carriages, transferring relevant technology, and training human resources for the Vietnamese railway sector.

Vietnam’s Prime Minister Pham Minh Chinh receives Sun Rongkun, chairman of China Railway Rolling Stock Corporation (CRRC)’s Dalian Locomotive and Rolling Stock Co. Ltd. in Dalian City in China’s Liaoning Province on June 24, 2024. Photo: Doan Bac / Tuoi Tre

Vietnam’s Prime Minister Pham Minh Chinh (R) receives Sun Rongkun, chairman of China Railway Rolling Stock Corporation (CRRC)’s Dalian Locomotive and Rolling Stock Co. Ltd. in Dalian City of China’s Liaoning Province, June 24, 2024. Photo: Doan Bac / Tuoi Tre

The two sides should engage in setting up high-quality railway projects and implementing them efficiently in the spirit of harmonious benefits and risk sharing, contributing to the development of the railway industry in Vietnam.

Briefing the PM on CRRC Dalian, which specializes in manufacturing locomotives, urban rail vehicles, express trains, and new-energy locomotives, Sun said the company’s products have so far been present in 32 countries, including Vietnam, the Vietnam News Agency reported. 

The company will continue providing railway products for Vietnam and wishes to join the building of railway routes to connect the two countries as well as engage in urban railway projects in the Southeast Asian nation’s two major metropolises, Hanoi and Ho Chi Minh City, stated Sun.  

He affirmed that his company is ready to provide its Vietnamese partners with comprehensive and high-tech solutions, share experience, and support railway staff training.

At his meeting with deputy general manager of Power Construction Corporation of China (PowerChina) Wang Xiaojun, PM Chinh suggested the group maintain and expand its cooperation and investment in Vietnam in renewable energy and railway projects.

Vietnam is prepared to issue a decree on the direct power purchase agreement mechanism, self-produced and self-consumed rooftop solar power, and the development of power projects using natural gas and liquified natural gas (LNG), the Vietnamese leader stated.

He expressed his hope that PowerChina will boost cooperation with Vietnam in the field of energy, especially renewable energy, the Vietnam News Agency reported. 

Vietnam also welcomes and encourages foreign businesses with potential, capital, engineering, and technology resources, including PowerChina, to participate in railway projects approved by the leaders of the two countries, as well as urban railway routes in Hanoi and Ho Chi Minh City, Chinh added.

Wang told Chinh that PowerChina has operated in Vietnam in the sphere of energy since 2000 through many hydro, thermal, solar, and wind power projects in different locations, with a total contract value of over US$9 billion.

PowerChina is interested in pumped storage hydropower, wind power, and integrated LNG projects in Vietnam.

In addition, the group is also ready to join hands with Vietnamese partners in railway projects including those in urban areas, Wang stated.

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Vinh Tho - Ngoc An / Tuoi Tre News

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