Friday, August 21, 2009

Vietnam taps Japan for HSR technology

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Vietnam Railways says it will use Japanese high speed rail technology for its proposed HSR route linking Ho Chi Minh City with Hanoi, the capital. Vietnam may seek funds from Japan’s official development assistance program, as well as from the Asia Development Bank and the World Bank, to advance the project.

Work on the $56 billion, 1,560-kilometer (967-mile) line is scheduled to begin in 2020, and would be standard gauge, as opposed to the narrow gauge (1,000 mm, or 3feet, 3/8-inches) rail line  currently linking the two cities.

The announcement by Vietnam Railways, made August 17, prompted gains in shares of several Japanese companies on the Tokyo Stock Exchange, including Kawasaki Heavy Industries, Kinki Sharyo, and Nippon Sharyo.