Construction starts at USD16 billion airport PPP project in Vietnam
The construction works have started on the first phase of Vietnam's largest airport Long Thành International Airport located in Đồng Nai province near Ho Chi Minh (HCM) City, Vietnam.
The US$4.6 billion first phase of the airport will include a four-kilometer runway, taxiways, aprons, and a 373,000-square-meter terminal with a capacity of 25 million passengers and 1.2 million tons of cargo a year. This first phase is set to be completed by 2025.
The three phases of the airport that is expected to be completed by 2040. By then, it will have four runways, four-passenger terminals, and auxiliaries to accommodate 100 million passengers and 5 million tons of cargo every year, with a total involved investment of around US$16 billion.
The total estimated investment for the entire project divided into three phases is VND336,630 billion (USD16.03 billion). Once three phases have completed, the Long Thanh international airport will have four runways, four-passenger terminals with synchronous auxiliary items to handle a capacity of 100 million passengers and 5 million tons of cargo annually.
The project has been part of Vietnam's PPP programme, and the private sector has been widely encouraged to invest in this and other airport projects throughout the country, including Tan Son Nhat, Da Nang and Cam Ranh. However, this phase of the project is currently being invested and developed by the Airport Corporation of Vietnam (ACV), a state-owned company, and the project has not yet attracted the expected private sector contribution.