The Ministry of Vietnam has given the green light to a plan for a $10 billion project to build Long Thanh International Airport in HCM City.
Located in the southern Dong Nai Province of Ho Chi Minh, the 5,000-hectare airport will comprize three runaways and parking place worth $1.27 billion and two terminals costing $1.4 billion as per the plan.
It is also expected to have an annual accommodation capacity of 50 million passengers by 2030 in addition to the cargo terminal, which is expected to handle 1.5 million tonnes per year.
The airport will serve 90 percent of international as well as 20 percent of domestic flights, diverting a major chunk of passenger traffic from the city’s Tan Son Nhat International Airport that is considered to be the country’s largest airport.
Funding will be provided by government, private as well as foreign enterprises. Phase one of the project is scheduled to commence by 2015 and complete by 2020.