Vietnam's Vingroup inks $1bn bullet train deal with Siemens

Transportation Vietnam's Vingroup inks $1bn bullet train deal with Siemens

VinSpeed due to finish nation's 1st high-speed lines before north-south rail project

Vietnam lacks high-speed rail, something Vingroup wants to change, with one project aiming to slash two-hour trips from Hanoi to 30 minutes. (Siemens)

HO CHI MINH CITY -- Vingroup's rail unit, VinSpeed, and German multinational Siemens have signed a deal for 10 bullet trains worth up to 1 billion euros ($1.1 billion) to be used on the Vietnamese company's high-speed lines in Hanoi and Ho Chi Minh City.