Long Thành International Airport is under construction. — VNA/VNS Photo

ĐỒNG NAI — Local authorities have given the nod for investors to study a potential extension of HCM City’s Metro Line No.1 all the way to Trấn Biên Ward and the under-construction mega airport Long Thành.

The move is significant for commuters as the Airports Corporation of Việt Nam is proposing to transfer all international flights at the old, overcrowded Tân Sơn Nhất International Airport in HCM City to the new Long Thành International Airport that can handle up to 100 million passengers annually when it's fully completed.

Đồng Nai People’s Committee said it has reviewed reports from relevant departments and approved a proposal from Donacoop Infrastructure Investment JSC and VinaCapital Group to conduct research into the ambitious project under a public-private partnership (PPP) model.

The planned extension would run across three sections, totalling approximately 38.5km. These include a 6.5km link from station S0 to Đồng Nai’s new administrative centre in Trấn Biên Ward, a 27km stretch from there to Long Thành Airport, and a 5km connection from the centre to the main road of Trấn Biên Ward, formerly the hub of old Biên Hòa City.

The joint venture will cover all costs and risks during the study phase. Should the proposal be rejected, the investors will bear the full expense. If approved, reimbursements will follow existing PPP regulations.

The People’s Committee has tasked the investors with preparing a detailed pre-feasibility study report in close coordination with provincial departments and localities. The report must include assessments on land-use needs, site clearance and compensation costs, resettlement plans, and land allocation, all in accordance with laws on construction and PPP.

The investors estimate the project will cost around VNĐ65 trillion (US$2.46 billion), not including land compensation and clearance. They plan to fund it entirely through private capital. If land is handed over on schedule, construction could be completed in four to six years.

Donacoop and VinaCapital previously submitted a proposal to extend Metro Line No.1 as part of a transit-oriented development (TOD) initiative aimed at fostering the growth of smart urban areas. — VNS