Investment
Vietnam allocates US$4.7 billion for Phase 1 construction of new mega airport
During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually.
Total investment capital for the construction of Long Thanh International Airport is estimated at VND111.69 trillion (US4.77 billion) in the first phase, according to Minister of Transport Nguyen Van The.
The capital is allocated to cover construction fee, equipment, contingency costs due to price slippage factors, and interest rates, among others, The said at a hearing held by the National Assembly (NA)’s permanent committee on October 17.
During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually, as well as other facilities, said The.
Following the pre-feasibility study of the airport, the construction of the first phase covers an area of 1,165 hectares, while the consultant proposed to expand the area to 1,810 hectares to add a logistics center, cargo station for fast delivery, solar power generation station, a detention basin, among others.
At the hearing, the NA’s Economic Commission requested the government to conclude the feasibility study for the second and third phases of the construction, ensuring high competitiveness of Long Thanh Airport compared to others in the region.
The commission warned additional facilities could lead to higher investment capital, expecting the government to revise their rationality to prevent a surge in the construction cost.
Additionally, the commission expressed concern over the government’s ability to meet the deadline for completion by 2025, due to the time-consuming nature of approving technical designs after approving the feasibility study, as well as complicated process of resettlement and compensation.
Long Thanh International Airport has a total investment capital of VND336.63 trillion (US$16 billion). In November 2017, the NA approved resolution on acquiring land, compensation and supporting resettlement of affected people in the project area with investment capital of nearly VND23 trillion (US$1 billion).
The feasilibility report for Long Thanh International Airport was made by Airports Corporation of Vietnam (ACV) with supports from joint venture of JFV (Japan – France – Vietnam), including Japan Airport Consultants (JAC), ADP Ingeniere (ADPi), Nippon Koei (NK), Oriental Consultants Global (OCG).
Consultants responsible for technical design and construction supervision are Airport Design and Construction Consultancy (ADCC) and Transport Engineering Design (TEDI).
Illustrative photo.
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During the first phase of the construction, the work items include a runway, a passenger terminal with handling capacity up to 25 million people and a cargo terminal for 1.2 million tons of goods annually, as well as other facilities, said The.
Following the pre-feasibility study of the airport, the construction of the first phase covers an area of 1,165 hectares, while the consultant proposed to expand the area to 1,810 hectares to add a logistics center, cargo station for fast delivery, solar power generation station, a detention basin, among others.
At the hearing, the NA’s Economic Commission requested the government to conclude the feasibility study for the second and third phases of the construction, ensuring high competitiveness of Long Thanh Airport compared to others in the region.
The commission warned additional facilities could lead to higher investment capital, expecting the government to revise their rationality to prevent a surge in the construction cost.
Additionally, the commission expressed concern over the government’s ability to meet the deadline for completion by 2025, due to the time-consuming nature of approving technical designs after approving the feasibility study, as well as complicated process of resettlement and compensation.
Long Thanh International Airport has a total investment capital of VND336.63 trillion (US$16 billion). In November 2017, the NA approved resolution on acquiring land, compensation and supporting resettlement of affected people in the project area with investment capital of nearly VND23 trillion (US$1 billion).
The feasilibility report for Long Thanh International Airport was made by Airports Corporation of Vietnam (ACV) with supports from joint venture of JFV (Japan – France – Vietnam), including Japan Airport Consultants (JAC), ADP Ingeniere (ADPi), Nippon Koei (NK), Oriental Consultants Global (OCG).
Consultants responsible for technical design and construction supervision are Airport Design and Construction Consultancy (ADCC) and Transport Engineering Design (TEDI).
