Vietnam selects ACV to fund Long Thanh International Airport development project

27 August 2015 (Last Updated August 27th, 2015 18:30)

Vietnam Prime Minister Nguyen Tan Dung has urged the Airport Corporation of Vietnam (ACV) to make an investment in the Long Thanh airport project development project.

Skyview of airport site

Vietnam Prime Minister Nguyen Tan Dung has urged the Airport Corporation of Vietnam (ACV) to make an investment in the Long Thanh airport project development project.

Located in the southern Dong Nai Province, the airport is expected to be Vietnam's largest airport, and will use modern technology in its building, operations and management, reported Viet Nam News.

Claimed to be of high international standards, the technology is expected to satisfy safety, convenience, quality and effectiveness parameters.

ACV will be required use a portion of its development funds to prepare a feasibility report on the first phase of the project, which will subsequently be submitted to the Prime Minister and the State Assessment Council (SAC).

The project has been divided into three phases, with the first earmarked for completion by 2012.

Covering a runway construction, a terminal and other supportive infrastructure, this phase is expected to make the airport capable enough to handle 25 million passengers and 1.2t of freight per year.

The total cost of the three-phase project is estimated to be VND336.63 tn(US$15.028bn), with the first phase expected to require VND114.45tn ($5.1bn).

The airport project was approved by the National Assembly in June. The airport, once completed, will be able to accommodate 100 million passengers and five million ton freight annually.

The Long Thanh airport project is being funded by State budget, the Official Development Assistance (ODA), corporate investment, the public - private partnership (PPP) and other resources.

The Prime Minister's directive to ACV comes at a time when several US firms are believed to be seeking opportunity to invest in the project.

Dong Nai People's Committee deputy chairman Nguyen Phu Cuong told Vietnam News, that bids for the project investment will be entertained only when the companies prepare files to attend the bidding process, which would have to adhere to Vietnamese regulations.


Image: Long Thanh airport project's first phase to begin soon Photo Courtesy of Odessey / Wikipedia