Long Thanh Airport price tag down $111 mln after assessment

It estimated the cost of the proposed airport in the southern Dong Nai Province at VND109.1 trillion ($4.7 billion), or 2.2 percent lower than the Ministry of Transport’s price tag, due to lower construction and management costs.

It expressed concern about the ministry’s completion deadline of 2025, saying the complexity of the work could delay the process of awarding consultancy and construction contracts.

The cost has worried some lawmakers, who say it is higher than for similar projects in other countries.

But the Airports Corporation of Vietnam (ACV), which is developing the project, has said it is similar to the cost of Beijing Daxing International Airport in China and Istanbul Airport in Turkey.

Following the appraisal by the council, the feasibility report is ready for submission to Prime Minister Nguyen Xuan Phuc for final approval.

Land acquisition is ongoing. Dong Nai Province will acquire 5,000 hectares.

In the first phase the airport will have one runway and one terminal with a capacity of 25 million passengers and 1.2 million tons of cargo a year.

After all three phases are completed in 2050 at a total estimated cost of VND336.63 trillion ($16 billion), it will be able to handle 100 million passengers and five million tons of cargo a year.