Losing nearly 700 billion VND in 2 years of Covid, Hanoi Railway Transport Company (HRT) and Saigon Railway Transport (SRT) will be merged into one
Accordingly, the Deputy Prime Minister agreed on the policy of restructuring enterprises and units under the Vietnam Railways Corporation.
Specifically, to reduce the focal point of the branch of the locomotive factory from 5 branches of locomotive factory to 3 branches of locomotive factory.
Transfer the status quo of all activities, assets and people existing at the 3 Railway Project Management Boards of Regions 1, 2 and 3 to 1 Railway Project Management Board with the best conditions in terms of scale, experience, practice… to perform the function of representing the investor in managing railway projects invested by Vietnam Railways Corporation. Terminate the operation of the remaining 2 railway project management boards.
The official letter stated that the Hanoi Railway Transport Joint Stock Company (code: HRT) and the Saigon Railway Transport Joint Stock Company (code: SRT) were merged into one railway transport joint stock company. .
The Deputy Prime Minister assigned the Committee for the Management of State Capital at Enterprises to direct the Vietnam Railways Corporation to urgently restructure the above enterprises and units to ensure compliance with the provisions of law, develop effectively, absolutely not to lose capital and property of the State; finalize the Project on restructuring the Vietnam Railways Corporation in the 2021-2025 period to ensure compliance with Decision No. 360/QD-TTg dated March 17, 2022; submit to the Prime Minister for consideration and decision.4
In terms of business results, in the past 2 years due to the serious impact of the Covid-19 epidemic and social distancing measures, railway transport companies had to stop running trains.
Specifically, in 2021, HRT’s net revenue will reach 1,547 billion dong, down 20% compared to 2020. The company’s profit after tax loss is 121.6 billion dong, better than last year’s loss of 196 billion dong.
As for SRT, in 2021 net revenue reached VND893.58 billion, down 28.7% compared to the previous year. In 2021, the company continues to lose another VND 139 billion, in 2020 a loss of VND 217 billion.
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