The Ministry of Transport has officially proposed an investment plan for the Long Thanh International Airport project in Dong Nai Province that would cost USD5.6 billion for the first phase.
Model of Long Thanh Airport
The proposal has been sent to the Prime Minister. If the plan is approved, it will be presented to the National Assembly.
The Ministry of Transport needs USD7.8 billion to clear 5,000 ha of land and build a station that can serve 25 million passengers each year. However, due to difficulties in acquiring capital, the ministry divided the plan into two phases.
The first phase would clear 2.500 of land and build a runway and a station with capacity to serve 17 million passengers per year, and would require USD5.6 billion. USD2.2 billion would be spent on clearing the rest of the land and building another runway in second phase.
According to the ministry, USD2.7 billion for first phase would come from state budget and ODA and the other USD2.9 billion from enterprises.
"Several foreign investors such as Samsung and CHK Incheon have expressed interest and are willing to make investments under PPP or BOT models. ADPI, a French architecture and Engineering company proposed investing USD1.5 billion in the project," said the minister of transport, Dinh La Thang.
The first phase is scheduled to start in 2017 and for completion in 2023.
Previously, a number of experts opposed the plan, saying that it is a waste and the government should expand other airports such as Bien Hoa, Lien Khuong and Tan Son Nhat instead. The minister of transport, Dinh La Thang, said, however, questioned the wisdom of expanding those airports when more benefit could be seen by building new ones.