VinSpeed and Siemens sign $1.15 billion high-speed rail deal in Vietnam

VinSpeed, a subsidiary of Vingroup, has signed a turnkey contract worth up to €1 billion (approximately $1.15 billion) with Siemens Mobility to develop high-speed rail lines in Vietnam.

The agreement focuses on two major corridors: the 121-kilometer Hanoi-Quang Ninh line and the 54-kilometer Ben Thanh-Can Gio line. Under the terms of the deal, VinSpeed will be responsible for project development, track construction, and station building. Siemens Mobility will provide the technological infrastructure, including signaling, electrification, and communication systems.

Siemens Mobility is expected to supply ten Velaro Novo high-speed train sets. This advanced train platform is designed for speeds up to 350 km/h and features a distributed power system intended to increase passenger capacity and energy efficiency. The partnership also includes provisions for technology transfer and maintenance research to support the localization of the rail systems in Vietnam.