A rendering of a train to be manufactured at THACO’s planned rail production facility in Binh Co Ward, Ho Chi Minh City. Photo: THACO
Dai Quang Minh Real Estate Investment Corp., a THACO affiliate, signed a detailed agreement with South Korea’s Hyundai Rotem on June 11 as part of plans to localize rail equipment production.
A 320-hectare railway and mechanical industrial complex in Ho Chi Minh City’s Binh Co Ward is scheduled to break ground on July 1 and will include factories producing locomotives, railcars, and tunnel-boring machines, according to Nguyen Quoc Trung, deputy chief executive of Dai Quang Minh.
Nguyen Quoc Trung, deputy chief executive of Dai Quang Minh Real Estate Investment Corp., speaks about the progress of metro projects during a meeting with journalists in Ho Chi Minh City, June 18, 2026. Photo: D.P.
THACO expects to start manufacturing railcars at the facility in April 2027 and receive technology transfers to localize tunnel-boring machine production for future rail projects, he said.
Separately, Phan Cong Bang, director of the Ho Chi Minh City Management Authority for Urban Railways, said the city aims to complete six urban railway lines totaling about 187 km by 2030 under its development plan.
Phan Cong Bang, director of the Ho Chi Minh City Management Authority for Urban Railways, speaks during a meeting with journalists ahead of Vietnam Revolutionary Press Day (June 21) in Ho Chi Minh City, June 18, 2026. Photo: K.H.
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