VN Airports Corp commits to finish construction of Long Thanh airport by June 2025
Leaders of the Airports Corporation of Vietnam (ACV) said that it aims to complete the construction of Long Thanh airport by June 2025, six months earlier than the target assigned by the National Assembly.
Long Thanh airport has a lotus-shaped design.
On January 25, Mr. Lai Xuan Thanh, Chairman of ACV Board of Directors, said that the corporation has received most of the land area for construction of Long Thanh airport in phase 1 (over 1,800 hectares) and a part of land reserved for phase 2, ensuring project implementation.
In the past year, ACV carried out mine detection and fence construction projects around the airport. Soon after the Lunar New Year, the agency will carry out main items such as leveling and building foundation.
In the past two years, ACV's revenue and profit has plummeted due to the impact of the Covid-19 pandemic. From an annual profit of thousands of billion VND, this firm now earns profit of only a few hundred billion VND.
However, according to Mr. Lai Xuan Thanh, capital for Long Thanh airport has not been not affected. ACV's capital for development investment is still VND 36,000 billion, and the rest will be from commercial loans. The State Capital Management Committee and the State Bank of Vietnam have allowed the corporation to lend foreign currency from domestic banks to build Long Thanh airport. ACV is working with banks to develop detailed plans.
"We are trying Linh to ensure resources for Long Thanh airport without changing the total investment in the feasibility report," said Thanh.
Regarding progress, Mr. Thanh said the National Assembly and the Government asked to complete phase 1 construction by December 2025, but the firm set a goal of June 2025 and possibly earlier.
In addition to Long Thanh airport, in 2022, ACV will conduct a number of projects to expand and upgrade existing airports such as Phu Bai airport (Thua Thien - Hue), T3 Tan Son Nhat terminal, new terminal at Cat Bi airport (Hai Phong), and expansion of Con Dao airport.
The policy to build Long Thanh International Airport was approved by the National Assembly, with a capacity of 100 million passengers and 5 million tons of cargo per year. Estimated total capital for this project is VND 336,630 billion (equivalent to USD 16.06 billion). In phase one, the airport has a total investment of VND 114,450 billion (USD 5.45 billion).
The Japanese Embassy has proposed the Airports Corporation of Vietnam (ACV) allow Japan to conduct research and draw up a pre-feasibility study for the second phase of the Long Thanh international airport project, said a representative of ACV.