An inter-sectoral appraisal council has thrown its support behind an airport project costing VND5.8 trillion (US$244.3 million) in Quang Tri Province in north-central Vietnam and suggested the provincial authorities approve the project.
Earlier, Minister of Planning and Investment Nguyen Chi Dung, chairman of the inter-sectoral appraisal council, signed an appraisal report which is a foundation for Quang Tri Province to approve the project.
T&T Group proposed developing the airport in Gio Quang, Gio Hai, and Gio Mai Communes, Gio Linh District, Quang Tri Province.
The airport, when wholly completed in 2050, will receive five million passengers and 25,500 metric tons of cargo per year.
The Quang Tri administration was expected to green-light the airport project this quarter. The project will be executed in two phases.
T&T Group scheduled to complete the first phase before 2026, during which it will develop basic facilities of the airport, including a 2,400-meter-long and 45-meter-wide runway, a 15-meter-wide taxiway, an apron with three aircraft parking spots, a passenger terminal, and other facilities, to serve some 500,000 passengers per year.
In the second phase, the group proposed expanding the passenger terminal in 2029 to welcome 2.2 million passengers per year, and widen the terminal and a car parking area in front of the terminal in 2047 to increase the annual capacity of the airport to five million passengers.
The investor also suggested developing a cargo terminal at the airport in 2029 to receive 5,600 metric tons of cargo a year.
The cargo terminal will be expanded in 2043 and 2059 to reach an annual capacity of 25,500 metric tons.
The Quang Tri airport project was designed to cover some 265.3 hectares of land.
The estimated investment for the project, VND5.8 trillion ($244.3 million), does not include site clearance costs.
The figure was VND311 billion ($13.1 million), or 5.6 percent, higher than that in a decision approving the project.
The project will be conducted under a build-operate-transfer contract within two years and the capital recovery period will last for 47 years and three months.
The appraisal council required referring to the construction and equipment costs at Van Don Airport in northern Quang Ninh Province, Cat Bi Airport in northern Hai Phong City, and Dien Bien Airport in the namesake northern province to calculate the costs for the Quang Tri airport project.
It also asked the People’s Committee of Quang Tri Province to carefully estimate the investment in the project to ensure the investment is in line with the law.