31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
US$306-mln Sapa Airport project kicked off
Anh Kiet 20:48, 2022/03/04
The airport is expected to boost socio-economic and tourism development in Lao Cai Province and the whole northwestern region of Vietnam.

The ground was broken for the construction of the VND6.9 trillion (US$306 million) Sapa Airport in Vietnam’s northwest mountainous province of Lao Cai on March 3.

The project, carried out under the public-private partnership (PPP) financing mechanism, covers a 371-hectare site in Bao Yen District, less than two hours from the tourist town Sapa.

 The groundbreaking ceremony of Sapa Airport was held on March 3. Photo: Viet Huy

The Sapa Airport project is set to be executed in phases, the first of which began in 2021 with the construction of a 4C category airport (capable of accommodating narrow-body jets) according to the classification of the International Civil Aviation Organization (ICAO). The airport is expected to have a handling capacity of 1.5 million passengers per year.

The second phase will start in 2028 to finalize other facilities and raise the airport’s capacity to three million passengers per year.

At the groundbreaking ceremony, Nguyen Trong Hai, vice chairman of the Lao Cai People's Committee, hailed the project as a breakthrough in transport infrastructure in the province and the mountainous regions of the north of Vietnam.

“Once completed, the airport is expected to boost socio-economic and tourism development in Lao Cai Province and the whole northwestern region,” Hai said.

The project is divided into two sub-components, including a site clearance project financed by the public investment fund and the airport construction under the PPP.

It is estimated the first phase would require VND4.18 trillion ($184 million), or 60% of total investment capital, and the remaining 40%, or VND2.76 trillion ($121.2 million), for the second phase.

The Government would contribute VND2.73 trillion ($120 million) in the project for site clearance, resettlement, and infrastructure construction, while another VND4.2 trillion ($184 million) would be mobilized by investors.

The Government expects the total construction time to be around 4 years and another 46 years to recover the investment capital.

Sapa, around 380 kilometers from the capital city of Hanoi, is one of Vietnam’s most famous tourist destinations and home to various ethnic minority groups.

TAG: US$306-mln Sapa Airport project
Other news
13:21, 2022/21/10
Economic cooperation - a highlight of Vietnam-Oman relationship
This year marks the celebration of the 30th anniversary of diplomatic relations between Việt Nam and Oman.
19:44, 2022/44/08
JBIC prioritizes partnership with Vietnam
304 JBIC-funded projects in the fields of energy and supply chain development have been effective and have contributed to promoting green growth in Vietnam.
22:22, 2022/22/19
Vietnam and India open new direct flights
The operations of six new air routes will facilitate Vietnamese passengers' travel to places of pilgrimage in India and Indian citizens visiting Vietnam.
18:51, 2022/51/11
More foreign investors land in Vietnam's industrial parks
The reopening of the borders, the government's active support for investors, and the resilience of domestic firms would open up a promising future for the industrial property market in 2022 and subsequent years.
10:49, 2022/49/07
ADB, LDC sign US$100 million loans to support smallholder farmer livelihoods
The loan will support LDC’s operations in India, Indonesia, Pakistan, Thailand, and Vietnam by financing coffee, cotton, and rice inventories for over 50,000 smallholder farmers across these countries.
16:31, 2022/31/04
Vietnam’s selective FDI attraction strategy yields early results
The amount of FDI capital pouring into fields of high environmental risks, obsolete technologies or labor-intensive industries has been on the decline.