Vietnam is considering building a high-speedthe railway that runs along the country’s length with a possible price tag of up to$58.7 billion, the government said on Sunday.

The Southeast Asian country’s transport ministry will next month submit aproposal to build the 1,545 km (960 miles) railway to the Politburo, thethe powerful decision-making body of the ruling Communist Party of Vietnam,the government said in a news release.

Vietnam, a regional manufacturing hub, is ramping up its investment intransport infrastructure to support its fast-growing economy.

The first two sections with a combined length of 665 km (413 miles) and totalinvestment of $24.72 billion would be open to traffic by 2032, and the governmentsaid, adding that the entire project would be completed by 2045-2050.