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ACV targets to complete Long Thanh airport project earlier than planned

The Saigon Times

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HCMC – The Airports Corporation of Vietnam (ACV) has set a target to complete the first phase of the Long Thanh International Airport project in Dong Nai Province in June 2025, six months earlier than the plan set by the National Assembly.

On January 25, ACV Chairman Lai Xuan Thanh said the corporation had received more than 2,600 hectares of land for the first phase of the project and part of the land for the second phase, news site VnExpress reported.

ACV has held monthly meetings to review the progress of the project.

Last year, ACV conducted the bomb and mine detection and clearance work and built a fence around the airport. After the Tet holiday, the firm will level the site and build the foundation.

Over the past two years, ACV’s revenue and profit plunged due to Covid-19. However, the capital for the big-ticket airport project was not affected.

Of this, VND36 trillion will be sourced from ACV’s capital for investment and development and the remainder from loans. The Commission for the Management of State Capital at Enterprises and the State Bank of Vietnam have allowed ACV to borrow foreign currency loans from domestic banks to develop the Long Thanh International Airport.

ACV has been working with banks to formulate detailed plans.

The National Assembly approved the Long Thanh International Airport project with an annual capacity of 100 million passengers and five million tons of cargo. The project needs some VND336.63 trillion, including VND114.45 trillion for the first phase.

Besides the Long Thanh International Airport project, ACV will upgrade some existing airports this year, including Phu Bai in Thua Thien Hue Province and Con Dao in Ba Ria-Vung Tau Province, and build the T3 passenger terminal of the Tan Son Nhat International Airport in HCMC and a new terminal of the Cat Bi Airport in Haiphong City.

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