Foreign investors swarm Long Thanh airport project

August 25, 2017 | 15:50

(0) user say

In an attempt to reaffirm their ambitions of developing Long Thanh International Airport in the southern province of Dong Nai, Hanoi General Export Import JSC (Geleximco) and Hong Kong United Investors Holding (HUI) submitted their proposal to the prime minster for approval.

Long Thanh International Airport has been eliciting strong interest from foreign investors

If approved, these enterprises pledge to complete the construction between 3-5 years with the minimum expenditure for a modern airport.

Vu Van Tien, chairman of the board of directors cum general director of Geleximco, has confirmed the above information with Dantri.

According to VIR’s earlier report, in October 2016, the two parties requested authorisation from the Ministry of Transport to develop Long Thanh International Airport, one of the four large-scale traffic infrastructure projects that these enterprises were interested in developing in Vietnam.

The three other projects are the Thanh Hoa-Ha Tinh and Ho Chi Minh City-Khanh Hoa expressways under the north-south expressway project, the Halong-Van Don-Mong Cai Highway project, and the north-south express railway project.

Although the investors have yet to release the specific investment capital for the four projects, the total is expected to be nearly $50 billion.

HUI has vast experience in implementing traffic infrastructure as well as international terminal projects. In addition, it has strong financial potential due to the backing of financial enterprises from Hong Kong, including Huarong Oversea Investment, China Minsheng Financial, and China Orient Asset Management International.

Geleximco was established in 1993 to operate import, export, and trade services. The corporation has gradually laid down the groundwork for its venture into industry, real estate, financing, and information technology. Currently, it has 30 subsidiaries and dozens of affiliates operating throughout Vietnam.

Along these two enterprises, seven contractors from the US, Japan, and Europe expressed interest in joining the Long Thanh International Airport project.

In June 2016, the National Assembly approved the construction of Long Thanh International Airport. The project’s construction, which is expected to start in 2019, will cover an area of 5,000 hectares in the six communes of Binh Son, Suoi Trau, Cam Duong, Long An, Long Phuoc, and Bau Can in Long Thanh district.

Long Thanh Airport is scheduled to be constructed on an area of 2,750ha. Once the first phase is put into operation in 2025, the airport is expected to handle 25 million passengers and 1.2 million tonnes of cargo each year. The first phase will include the construction of a runway, a terminal, and auxiliary facilities.

The second and third phases will add more runways and terminals to bring the total annual capacity to 100 million passengers and five million tonnes of cargo.

The airport will meet the 4F standards of the International Civil Aviation Organisation, taking a huge step towards becoming an international passenger and cargo transit centre in the region.

Three workers lost life in accident at Gleximco apartment

At 2 PM on August 22, while installing equipment for an escalator at Newlife Tower apartment building invested by Geleximco, three workers fell from the seventh floor to the first floor and died.

The building is at Bai Chay Ward in the northern province of Quang Ninh’s Halong City.

The victims were identified as Huynh Giang Nguyen (28), from Ba Ria-Vung Tau Province, Nguyen Hoai Phong (18) and Tran Hieu Nam (22) from Ho Chi Minh City.

An investigation is underway to find the cause of the accident. The project has been temporarily suspended for workplace safety inspection.

RELATED CONTENTS:
	Đồng Nai halts construction licensing
	NA to consider feasibility study of Long Thanh Airport in October
	3M Vietnam inaugurates new plant in Dong Nai
	Vietnam seeks further Japanese support for important transport projects
	NA approves special site clearance mechanism for Long Thanh International Airport
	Government urges site clearance for Long Thanh Airport
	$35m road coming to aid development of new HCM City urban area
	Long Thanh Golf Course maintains leading position in Vietnam
	South Korea interested in Long Thanh airport development