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PM asks ACV to invest in Long Thanh Airport

Update: August, 28/2015 - 08:30

Graphic image of Long Thanh International Airport, which will be built in southern Dong Nai Province. — Photo

HA NOI (VNS) — Prime Minister Nguyen Tan Dung has asked the Airport Corporation of Viet Nam (ACV) to be investor of the Long Thanh International Airport in the southern Dong Nai Province.

It is expected to be the largest airport in Viet Nam.

The ACV will be responsible for using part of its development funds for preparing a feasibility report on the first phase of the project, and then submitting it to the Prime Minister and the State Assessment Council.

The 5,000ha airport in Long Thanh District will meet the 4F standard of the International Civil Aviation Organisation, and will strive to become a regional hub for international air travel.

The airport will use modern technology in its building, management and operations, which will be of advanced international standards, ensuring safety, convenience, quality and effectiveness.

The airport project was approved by the National Assembly in June this year. Once implemented, the airport will be able to handle 100 million passengers and five million tonnes of freight a year. As per the design, the project has been divided into three phases. The first phase, expected to be completed in 2025, will make it possible to handle 25 million passengers and 1.2 million tonnes of freight a year, and will include the construction of a runway, a terminal and supporting infrastructure.

The project's funding is expected to come from the State budget, the Official Development Assistance (ODA), corporate investment, the Public – Private Partnership (PPP) and other resources.

American firms

The total cost of the three-phase project is estimated to be VND336.63 trillion (US$15.028 billion), with the first phase expected to require VND114.45 trillion ($5.1 billion).

A number of American firms from the state of Arkansas are seeking opportunities to invest in Long Thanh International Airport, according to Dong Nai Portal.

Speaking at a meeting early this week during his visit to the province, Chairman and CEO of the Made in USA Works, Mike Roberts, said the businesses had experience of building and managing airports. In addition, they were interested in healthcare and energy saving technologies in the province.

Made in USA Works, a company located in Arkansas, partners with businesses that want to reshore their manufacturing and assembly of products to the US. It is the only company in the world that specialises in marketing and selling products made in the US to retailers.

At the conference, Deputy Chairman of Dong Nai People's Committee, Nguyen Phu Cuong, said if the businesses wanted to invest in this project, they would need to prepare files for attending bidding – which would be conducted as per the country's regulations.

Dong Nai Province and Arkansas signed a cooperation agreement on June 2015. Meanwhile, the Made in USA Works has co-operated with Tin Nghia Corporation to strengthen investment in the two areas. Tin Nghia has opened representative office in Bentonville in Arkansas. — VNS

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