HANOI, Aug. 24 (Xinhua) -- Vietnam's National Assembly on Monday approved a resolution adjusting the investment policy for the Lao Cai-Hanoi-Hai Phong railway, raising the planned investment by more than 86 trillion Vietnamese dong (about 3.36 billion U.S. dollars), local media Thanh Nien reported.
The 363-km main line, plus 63 km of branch lines, will run from the northern province of Lao Cai bordering China through the capital city of Hanoi to the northern port city of Hai Phong, with a design speed of up to 160 km per hour, according to the report.
The preliminary total investment for the 1,435-mm standard-gauge railway is estimated at over 289.3 trillion Vietnamese dong (about 11.3 billion dollars), with the additional funding mainly covering construction and equipment, compensation and resettlement, as well as other project-related costs.
According to a government report, about 148.48 trillion Vietnamese dong (about 5.8 billion dollars) has been allocated so far.
The government aims to complete the railway by 2030, the report added. ■
