A new airport will be built in Quang Tri Province in the country’s North Central Coast region with a total investment capital of VND5.82 trillion (US$254 million).
|Design of the Quang Tri Airport. Source: VGP|
Prime Minister Pham Minh Chinh approved the construction of the airport on December 20, noting it would proceed under the public-private partnership (PPP).
According to the PM’s decision, the Quang Tri Airport would stretch three communes of Gio Quang, Gio Hai, and Gio Mai in Gio Linh District, and has a runway of 4C category of the International Civil Aviation Organization (ICAO). It will be able to handle narrow-body aircraft and a grade II military airport.
In the early phase, the airport is set to handle one million passengers and 3,100 tons of goods per year, eventually reaching over 2.2 million passengers annually by 2046 and 5,600 tons of goods by 2042.
The Government expects to construct the airport in two phases, in which the first would be the construction of basic facilities of the airport to qualify for the 4C category and grade II military airport, with an investment capital of VND2.91 trillion ($127 million).
Upon breaking down, the state would provide VND233 billion ($10.1 million) for site clearance and resettlement, and the remaining VND2.68 trillion ($117 million) would be mobilized by contractors.
In phase two, scheduled to start from 2029, the focus would be on other support facilities and the expansion of the airport terminal, so that the airport will handle up to five million passengers by 2047. A cargo terminal with a capacity of 13,700 tons per year will be completed in 2043 and expanded to handle 25,500 tons in 2059.
The investment capital for this phase is estimated at VND2.9 trillion ($127 million), including VND79.7 billion ($3.5 million) from the state budget.
The duration for the execution of the two phases is set to be 50 years. It would take 47 years to recover the investment capital.
The Government expects the project to drive socio-political-economic development in Quang Tri Province, at the same time ensuring the national defense in the central region.
Several investors have already shown interest in the project, including FLC Group, Vietjet Air, a Thailand investor, and T&T Group. Among others, T&T Group has submitted its intention to conduct a project feasibility study.