The Swedish group’s decision was made after a two-year survey of the project linking the three big ports in Hai Phong, Da Nang and HCM City and across 114 ports.

The group proposes to carry out the project under the build-operate-transfer (BOT) method at the expense of US$45 billion while Vietnam must carry out the ground clearance stage and build rails for the expressway. SkeriNova will be responsible for supplying trains and relating equipment as well as generation process to carry passengers and goods. But till date, the group’s representative has not confirmed the estimated capital contribution.

If the company gets a license, the project will start from 2010 and finish by 2015.

According to the Infrastructure and Urban Structure Department, the project worth tens of billion of US dollar is significant for Vietnam with the government arranging about 30% of the project’s total cost.

Viet Nam highly appreciated the continuous efforts of foreign groups in upgrading the country’s railway system.