ACV to invest more than $4.3 billion in Long Thanh Int’l Airport

A mock-up of Long Thanh International Airport. - Photo ACV

The decision was made in Resolution No 04 adopted by ACV’s extraordinary shareholders’ meeting held recently in HCM City, with more than 99.8 per cent approval.

Of the total capital, more than VND36.1 trillion will be sourced from ACV and the remainder from loans and other sources.

The project on the first stage of the airport was approved by Prime Minister Nguyen Xuan Phuc on November 11 this year. The project has four components, covering the offices of State management agencies, works serving flight management, essential airport facilities, and other supporting works.

ACV will invest in the first runway, taxiways, a terminal, an aircraft parking space, and other major infrastructure at the airport.

The airport will be built in three phases over three decades and is expected to become the country’s largest airport.

In the first phase, one runway with a length of 4,000m, taxiways, an apron, and a passenger terminal with other auxiliary works sprawling 373,000 sq.m will be built to serve 25 million passengers and 1.2 million tonnes of cargo each year.

The airport is expected to have four runways, four passenger terminals, and other auxiliary works to ensure a capacity of 100 million passengers and 5 million tonnes of cargo a year by 2040.

Covering more than 5,580ha, the airport will straddle six communes in Long Thanh District. It is expected to cost VND336.63 trillion ($14.47 billion), with the first phase needing more than VND109 trillion ($4.66 billion).

Some 4,800 households and 26 organisations are expected to be relocated to make way for it.

Located 40km east of HCM City, the Long Thanh airport is expected to relieve overloading at Tan Son Nhat International Airport in the city, now the country’s largest airport.