ACV to invest in new terminal at Tan Son Nhat International Airport

Prime Minister Nguyen Xuan Phuc on May 19 granted approval for an investment project involving the new Passenger Terminal 3 at Tan Son Nhat International Airport, assigning the Airports Corporation of Vietnam (ACV) as the project’s main investor in the process.

The project has an overall investment capital of approximately VND10,990 billion and is expected to be completed within the next 37 months.The main objective of the project is to develop an international standard terminal that can deal with a capacity of 20 million passengers each year.

Passenger Terminal 3 will be fully equipped with all necessary facilities to meet demand from domestic travelers while alleviating the frequent overloads that occur in Domestic Terminal 1 at Tan Son Nhat International Airport

The land lease on the project will be for 50 years starting from the date on which decisions involving land allocation and lease are taken, in accordance with the law.

In addition, PM Phuc has asked for the Ho Chi Minh City’s administration to take responsibility for information, data, and content with regard to the project’s appraisal documents. Elsewhere, the Ministry of Transport must be responsible for the proposal in which to assign the ACV as the main investor with their capital contribution being sourced from the firm.

Simultaneously, the Ministry of Transport is required to co-ordinate efforts and instruct the ACV when reviewing and finalising relevant documents.

At present, the ACV is managing, investing, and operating 22 airports across the country, including nine international airports.

Source: VOV

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