France's Aeroports de Paris (ADP) has expressed interest in buying a 25-30% stake in the Airports Corporation of Vietnam (ACV) that has been valued at $1.8bn.
Tuoitrenews reported that ADP and Credit Suisse will work with Vietnam's transport ministry and ACV to mobilise an amount of $2.5-3bn for the construction of the Long Thanh International Airport.
The announcement was made by ADP chairman-cum-director general Augustin de Romanet at a meeting with the Ministry of Transport, where he said that the company was willing to negotiate with ACV and that it hoped to become ACV's long-term partner in both capital and human resource development, reported Vietnam.net.
The Bao Giao Thong (Transportation) publication quoted Romanet as saying: "We are willing to pay for up to 30 per cent in ACV's capital prior to the IPO so that the company has the resource to facilitate its plans."
The company has stated that it wanted to invest in the Long Thanh International Airport project through a public - private partnership (PPP) model.
Minister of Transport Dinh La Thang reportedly said that the transport ministry is going to complete the privatisation of the ACV by the end of the second quarter of 2015.
The central government is currently working on a report that will be submitted to the country's National Assembly in May. Once lawmakers approve the report, only then the ministry will take the next step.
The Long Thanh International Airport is a proposed airport to be constructed in southern Vietnam. Upon completion, the airport is expected to serve close to 100 million passengers annually.