Vietnam greenlights $8 billion rail link to China
Vietnam's parliament on Wednesday approved an $8 billion rail project connecting its largest northern port city to the Chinese border.
The new rail line will run through some of Vietnam's key manufacturing hubs, home to Samsung, Foxconn, Pegatron and other global giants, many of whom rely on a regular flow of components from China, News.Az reports, citing AFP.
The route will stretch 390 kilometres (around 240 miles) from the port city of Haiphong to the mountainous city of Lao Cai, which borders China's Yunnan province, and will also run through the capital Hanoi.
Construction of the railway was backed in a vote by 95 percent of parliamentarians in the country's rubber-stamp National Assembly.
China will provide some funding through loans for the project, which is expected to cost more than $8 billion.
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