|Vietnamese government approves the first phase construction of Long Thanh International Airport|
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Lai Xuan Thanh, chairman of ACV, which operates 22 airports across the country, said the first phase of the airport, with an investment of more than US$4.6 billion, is projected to be completed by 2025, VOV reported.
ACV will need to raise about VND99 trillion (US$4.28 billion), or 90% of the total capital needed for the first phase of the airport.
It is set to have VND36.6 trillion (US$1.57 billion) by 2025, or 37% of the investment, and the rest from commercial loans and bonds.
|An artist's impression of the departure hall at Long Thanh International Airport in Dong Nai Province, southern Vietnam. Photo courtesy of the ACV.|
The corporation has been working with 12 domestic and international credit institutions to borrow the remaining at an interest rate of 5-5.5% a year with a loan term of 15 years.
In addition, the Government has proposed that the Vietnam Air Traffic Management Corp should be the investor of the control tower and other safety features.
The Government has also proposed building two additional roads to enhance better connections between the city and the new airport.
A rendering of the Long Thanh International Airport plan in the southern province of Dong Nai.
Photo courtesy of ACV
Dong Nai province has already handed over 1,800 hectares to make way for the airport. The corporation is making a detailed plan for construction.
According to Thanh, ACV is also the developer of other key projects such as the third terminal at Tan Son Nhat international airport in HCM City and the expansion of the international terminal at Hanoi’s Noi Bai international airport.
Last week, the Vietnamese government approved the first phase construction of Long Thanh International Airport.
The first phase will have one runway with 75 meters in width and 4 km in length and a system of taxiways and apron and a 373.000m2 passenger terminal which can serve 25 million passengers and 1.2 million tons of cargo per year.
The project has four component projects such as the headquarters of State management agencies, flight management services, essential airport facilities, and other works.
Long Thanh International Airport will have three phases that are expected to be finished in 2040. By then, it will have four runways, four passenger terminals, and auxiliary works in service of 100 million passengers and 5 million tons of cargo every year.
The investment was approved by the National Assembly in 2017, which also issued a resolution on compensation and resettlement of and support for affected individuals and organizations.
Covering a total area of more than 5,580ha, the airport will straddle six communes in the Long Thanh district. It is expected to cost VND336.63 trillion (US$14.47 billion).
Located 40km to the east of HCM City, the Long Thanh airport is expected to relieve overloading at Tan Son Nhat International Airport in HCM City, the country’s largest airport.
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