A large express railway system that will run through five localities will link Ho Chi Minh City and southern Can Tho City, according to a Memorandum of Understanding (MoU) signed yesterday between a Vietnamese scientific institute and a US group. The signing ceremony for the system that is estimated to cost US$3.6 billion was conducted yesterday morning between the Phuong Nam Science and Technology Institute and the US-based Executive Decision Export Services (EDES) Group. Now that the MoU is signed, the two partners will set up a joint venture and prepare a feasibility study of the project, which will be submitted to the Transport Ministry for consideration and approval. The railway project has been set up after six years of research by both sides and will be developed in the BOT (Build-Operate-Transfer) form. The above cost is not yet inclusive of the expenses on site clearance and compensation and on building two large bridges spanning the Tien and Hau Rivers. The railway, which is 134 km long and has 10 terminals, will run from the Tan Kien terminal in HCMC thorough Long An, Tien Giang, and Vinh Long Provinces before reaching the Cai Rang Port in Can Tho City. Cargo trains can run at a speed of 150 kph on the railway, while passenger trains can run faster, at 200 kph. The travel time between HCMC and Can Tho is about one hour. The system will be completed within five years, said Tran Tu Lanh, president of the EDES. Upon completion, the system will help enhance the capacity of cargo transport between the five localities, thereby boosting export and contributing to the Mekong Delta’s social and economic development, said Nguyen Thanh Lam, of the Phuong Nam Science and Technology Institute, the spokesperson of the project.