VinSpeed, the railway company within billionaire Pham Nhat Vuong's business ecosystem, has increased its charter capital to 45 trillion dong. This significant adjustment, finalized on 25/12, saw the capital rise from 33 trillion dong, according to disclosures on the National Business Registration Portal. The company's capital has grown 7.5 times compared to seven months ago, though details on the shareholder structure after the additional share issuance were not provided.

VinSpeed was established in May with an initial charter capital of 6 trillion dong. The company specializes in railway construction, as well as the production of locomotives and railway carriages. Pham Nhat Vuong holds a 51% stake in the company. Other shareholders include Tap doan Dau tu Viet Nam (VIG) with 35%, Vingroup with 10%, and Pham Nhat Quan Anh and Pham Nhat Minh Hoang, Pham Nhat Vuong's two sons, each owning 1% of the shares.

As of 9/12, VinSpeed held 379.1 million VIC shares, representing a 9.77% stake in Vingroup.

An illustration of VinSpeed's high-speed train. *Photo: VIC*.

Concurrently with VinSpeed's capital increase, Vingroup announced its withdrawal of a proposal to develop the North-South high-speed railway. This decision allows the conglomerate to reallocate resources to other key infrastructure projects. The North-South railway was a project VinSpeed had initially proposed in May, outlining a plan to arrange 20% of the capital and seek a 0% interest loan from the State for the remaining amount, with a 30-year repayment period from the disbursement date.

Despite withdrawing from the North-South high-speed railway, companies within Pham Nhat Vuong's ecosystem continue to invest in other major high-speed rail lines. These include the central Ho Chi Minh City - Can Gio route (54 km) and the Hanoi - Ha Long route (120 km), with a combined estimated investment of approximately 202 trillion dong. The target for commercial operation of these two lines is set for 2028.

By Trong Hieu