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The Ministry of National Defense would hand over 16 hectares for the purpose, Do Tat Binh, deputy director of the project's investor, ACV, said.
The feasibility report for the construction is being prepared and final approval would be issued next month, he added.
The construction will take two years, increasing, once completed, the airport’s capacity from 30 million passengers a year to 50-55 million.
The government has approved the construction of the new terminal at a cost of VND10.99 trillion ($478 million), which will come from ACV’s resources.
The combined capacity of Tan Son Nhat and the first-phase Long Thanh International Airport in neighboring Dong Nai Province would be 80-85 million by 2030, meeting the projected demand of 80 million.
Tan Son Nhat airport has been serving 36 million passengers a year since 2017, well above its capacity.
Analysts expect the new terminal to make a major contribution to HCMC’s socioeconomic development.
Tran Du Lich, an economic advisor to the Prime Minister, said along with the airport roads would also be improved, giving a big fillip to infrastructure in the country’s largest city.
The expected spike in demand after the end of the Covid-19 pandemic would pile pressure on the airport, he noted.
