Construction kicks off at mega Long Thanh airport
Construction of the Long Thanh International Airport's terminal in Dong Nai province and the third terminal at Tan Son Nhat International Airport in Ho Chi Minh City commenced on Thursday.
Prime Minister Pham Minh Chinh attended the Long Thanh airport event. Lai Xuan Thanh, chairman of state-run Airports Corporation of Vietnam (ACV), the investor, said the two projects are of national importance, playing an vital role in the southern region and Vietnam's socio-economic development.
The VND35 trillion ($1.49 billion) terminal package is set to be completed in 39 months. It will cover 150 hectares, featuring one basement and three floors, and 40 aircraft parking positions.
According to ACV, the construction will use the most modern technology in the field of aviation and materials with high durability and aesthetics.
A consortium, named Vietur and led by Turkish conglomerate IC Ictas, in mid-August won the bidding package to build the terminal. Vietur consists of IC Istas, a subsidiary of IC Holdings of Turkey, and nine Vietnamese firms: Ricons; Newtecons; Sol E&C; Construction Corporation No. 1; Vinaconex; Hanoi Construction Corporation; Phuc Hung Holdings; ATAD and Hawee. The Turkish contractor has built the Pulkovo airport in Russia, Varna Burgas in Bulgaria and several airports in its homeland.
Located in Dong Nai province, about 40 kilometers east of HCMC, Long Thanh is expected to ease the burden on the city’s heavily overloaded Tan Son Nhat International Airport.
The VND336.63 trillion ($14.12 billion) project is divided into three phases. The first phase, worth VND110 trillion ($4.64 billion), will consist of a runway, terminal and auxiliary facilities that can serve 25 million passengers per year. The terminal is the largest package in the first phase.
In the second phase, the project will construct an additional runway and terminal to reach a capacity of 50 million passengers a year. The remaining items will be completed in the third phase to give the airport a capacity of 100 million visitors a year.
On the same day, ACV commenced the construction of a third terminal (T3) at the Tan Son Nhat airport in HCMC, neighboring Dong Nai province.
The VND10.99 trillion ($461.4 million) new terminal will cover 112,500 square meters, consisting of a basement and four floors. It is designed to have 90 check-in counters, 20 automatic luggage counters, 42 check-in kiosks, and 27 boarding gates.
The terminal is expected to become operational in the second quarter of 2025. Once completed, T3 will handle domestic flights and up to 20 million passengers annually.
Tan Son Nhat has two terminals now, with T1 serving domestic flights and T2 handling international flights. T1 can serve 15 million passengers a year, while T2's capacity is 10 million.
ACV in early August announced the contractor for construction and equipment installation at T3. The package, worth more than VND9 trillion ($378.5 million), will be undertaken by a consortium of six Vietnamese companies, namely Hanoi Construction Corp, No. 1 Construction Corp, Corporation 319 under the Ministry of Defense, Truong Son Construction Corp, Ricons JSC, and Luu Nguyen Construction Ltd.
- Read More
Hanoi plans to start work on metro line 2 next year
Hanoi is set to start the construction of a section of its metro line 2 next year at a cost of VND35.58 trillion ($1.45 billion).
Infrastructure - Tue, December 17, 2024 | 9:15 pm GMT+7
Bamboo Capital highlights role of businesses in advancing Vietnam’s circular economy
Dr. Hoang Trung Thanh, a senior leader of Vietnam's conglomerate Bamboo Capital Group, emphasized the pivotal role of businesses in driving Vietnam’s green economy strategies during his speech at the recent Vietnam Circular Economy Forum 2024.
Bamboo Capital - Tue, December 17, 2024 | 8:15 pm GMT+7
F88 partners with MB to transform over 850 financial stores into bank transaction offices
Military Commercial Joint Stock Bank (MB) and leading consumer finance firm F88 on Monday officially signed a comprehensive cooperation agreement.
Companies - Tue, December 17, 2024 | 8:15 pm GMT+7
Vietnam’s e-commerce boom: a $5.8 bln opportunity by 2028
Vietnam’s business-to-consumer (B2C) e-commerce export value is estimated at VND145.2 trillion ($5.8 billion) by 2028, with micro, small and medium-sized enterprises (MSMEs) projected to contribute 25%.
Southeast Asia - Tue, December 17, 2024 | 7:32 pm GMT+7
Vietnam's retail giants to ensure sufficient supply, steady prices of Lunar New Year holiday goods
Saigon Co.op has stockpiled more than 12,000 tons of essential goods traditionally consumed for the upcoming Lunar New Year (Tet) holiday in late January, or 30-50% higher than normal.
Southeast Asia - Tue, December 17, 2024 | 7:28 pm GMT+7
Indonesia offers tax incentive to hybrid car makers
Indonesia will offer a sales tax incentive on Government-borne Luxury Goods (PPnBM DTP) of 3% for hybrid cars from next year.
Southeast Asia - Tue, December 17, 2024 | 7:21 pm GMT+7
Indonesia ready to establish bullion banks
Indonesia is ready to set up bullion banks after developing its capability to produce gold bars domestically, according to Minister of State-Owned Enterprises (SOEs) Erick Thohir.
Southeast Asia - Tue, December 17, 2024 | 7:19 pm GMT+7
Thailand, South Korea begin third round of Economic Partnership Agreement talks
Thailand and South Korea on Tuesday kicked off the third round of their talks for an Economic Partnership Agreement (EPA) aimed at broadening trade and investment exchanges, according to the latter's Ministry of Trade, Industry and Energy.
Southeast Asia - Tue, December 17, 2024 | 7:16 pm GMT+7
Thailand to spend nearly $9 billion to upgrade railway system
Thai Transport Minister Suriya Jungrungreangkit has announced a plan to accelerate work on the second phase of the country’s railway system upgrade next year.
Southeast Asia - Tue, December 17, 2024 | 7:14 pm GMT+7
Large housing supply to come from Vinhomes in 2025: exec
Leading housing developer Vinhomes will supply the Vietnamese market with "a large volume of goods" in 2025, especially in Hanoi, Hai Phong, Long An and Ho Chi Minh City's Can Gio district, says its director of investment Pham Anh Khoi.
Real Estate - Tue, December 17, 2024 | 5:19 pm GMT+7
Japan’s Sojitz launches $500 mln beef processing plant in Vietnam
Sojitz on Tuesday put its $500 million beef processing plant in the northern province of Vinh Phuc into operation, the Japanese firm said in a release.
Industries - Tue, December 17, 2024 | 5:02 pm GMT+7
US First Solar, Vietnam power firm PECC2 boost renewable energy ties
Vietnam’s Power Engineering Consulting JSC 2 (PECC2) and the United States’ First Solar will collaborate in utilizing the direct power purchase agreement (DPPA) mechanism and distributing the latter’s photovoltaic (PV) modules.
Energy - Tue, December 17, 2024 | 3:35 pm GMT+7
Warburg Pincus-invested IP developer BW starts building 13th project in Vietnam this year
BW Industrial Development JSC, one of Vietnam’s largest industrial and logistics real estate developers, has commenced construction on its BW Phu An Thanh Industrial Hub (PAT) project in Ho Chi Minh City.
Real Estate - Tue, December 17, 2024 | 3:03 pm GMT+7
Italy’s Flying Legend to introduce made-in-Vietnam aircraft
Flying Legend, an Italian manufacturer of replica aircraft, will introduce its made-in-Vietnam aircraft at the Vietnam Defense Expo 2024 from December 19-22 in Hanoi.
Companies - Tue, December 17, 2024 | 1:01 pm GMT+7
Vietnam real estate 2024: a year in review
As positive signals become more evident, now is the time to restart capital flows into real estate transactions in Vietnam and embrace the new growth cycle, write Avison Young Vietnam analysts.
Consulting - Tue, December 17, 2024 | 12:48 pm GMT+7
Vietnam’s GDP growth outpaces regional peers, 6.5% in 2025: Oxford Economics
Vietnam’s GDP growth can reach 6.5% in 2025, continuing to outperform regional peers in the ASEAN-6 group, Oxford Economics said in a Monday report.
Economy - Tue, December 17, 2024 | 10:35 am GMT+7