Hyundai wants to invest in North-South express railway

Deputy Minister of Transport Le Dinh Tho and Vice Chairman of Hyundai Group Chung Jin Hae discussed cooperation on local traffic projects at a meeting on May 30.

The vice chairman said Hyundai expected to participate in investing in and operating the express railway as well as the North-South Expressway projects. The group had earlier completed the construction of six high-speed railways in South Korea, three in other countries, and nine underground urban railways.

The Hyundai side also recommended fundraising methods for projects under the public-private partnership format (PPP). The governments of both countries should get involved in these projects to attract financial investors more easily and play key roles in site clearance works. In addition, investor-friendly policies should be adopted.

In response, Deputy Minister Tho said that the country is mobilizing various sources of capital from local and foreign investors to invest in traffic infrastructure projects, especially PPP projects.

Tho suggested Hyundai take part in tenders to select the railway project’s contractor and serve as the primary investor in major PPP projects.