Sufficient first phase funds ensured for Vietnam’s new mega airport: transport minister

Minister of Transport Nguyen Van Thang affirmed Wednesday that funding would be secured for building the Long Thanh International Airport, set to become Vietnam’s biggest.

The airport is being built in the southern province of Dong Nai, neighboring Ho Chi Minh City.

At a National Assembly discussion on adjustments to the airport’s investment plan, he said that the total investment for the project’s first phase was approximately VND109.11 trillion ($4.23 billion). Of this, sub-project 3, funded by the Airports Corporation of Vietnam (ACV), has a total investment of over VND99 trillion ($3.9 billion).

The sub-project has a surplus of approximately VND3.9 trillion ($153.4 million), he added, explaining further that the savings and contingency funds from Sub-project 3 were sufficient to cover the construction of a second runway in the first phase without affecting other planned works or incurring additional costs that might require procedural adjustments or delays.

In a proposal submitted to the National Assembl in early November, the government stated that the airport should have a second runway added to its first phase of construction, increasing the airport’s capacity.

Initially, only one runway was planned for the first phase, with the idea that Tan Son Nhat International Airport in nearby HCMC would serve as a backup in case of operational disruptions at Long Thanh.

However, ACV proposed that the second runway, located just 400 meters to the north of the first, be constructed immediately. It argued such a change would allow for greater operational flexibility, reducing risks of flight delays.

ACV has already secured the necessary funds for the first phase, with approximately $2.43 billion in equity and $1.8 billion from commercial bank loans, the minister said.

Regarding the construction timeline for the an additional runway in the first phase, Thang noted that the government aimed to complete preparatory work within a maximum of 12 months; but his ministry planned to reduce this to about six months.

Runway construction would take about 12 months, similar to the first one.

With National Assembly approval this session, the extra runway in the first phase could be completed by the end of 2025. The entire first phase is slated for completion by September 2, 2026.

Airport access

Addressing legislators’ concerns about transportation connections between HCMC and the new airport, the minister said his ministry has already developed a comprehensive plan for connecting the city center to the Long Thanh International Airport through both road and rail routes.

For road transport, the ministry is expanding the HCMC-Long Thanh Expressway. The Vietnam Expressway Corporation (VEC) is in charge of the expansion, which will increase the number of lanes from four to eight or even 10. The project is expected to be finished by 2027.

Construction of Ring Road 3, which will connect HCMC with Long Thanh, is slated for completion by 2026. The Ben Luc-Long Thanh Expressway, linking southern areas of HCMC with the airport, is also scheduled to be completed by the end of 2025.

Another road link, the Bien Hoa-Vung Tau Expressway, will improve access to the airport from the northern regions of the city.

Thang noted that there will be three major rail lines connecting the airport with HCMC: a high-speed North-South line from Thu Thiem to Long Thanh; a light rail line linking the two locations, for which the ministry is finalizing a feasibility study; and a rail link from Tan Son Nhat International Airport to Thu Thiem station.

The Long Thanh International Airport, about 40 kilometers east of HCMC, is a mega project with a total investment of VND336.63 trillion ($14.12 billion) that will be built in three phases.

Once complete, the airport will be the nation’s biggest, helping reduce overload at Tan Son Nhat International Airport in HCMC.