Warburg Pincus’s arm to build $677 mln road to Vietnam’s mega airport
Ho Tram Project Company Limited, under the U.S.-based private equity firm Warburg Pincus, is seeking to build a VND17.3 trillion ($677 million) road connecting its Vietnam resort complex to a mega airport project in the southern region.
Part of The Grand Ho Tram Strip in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of the company.
The proposed road will link the Grand Ho Tram Strip, a group of integrated resorts and residential developments in Ba Ria-Vung Tau province, to Dong Nai province-based Long Thanh International Airport, which, once completed, will be the largest in Vietnam.
The company is working closely with local authorities to expedite procedures for the project, Walt Power, general director of Ho Tram Project Company Limited, said during a meeting with Prime Minister Pham Minh Chinh in Ba Ria-Vung Tau on Thursday.
In response, PM Chinh welcomed the investment plan, noting that this road project has many meanings, not only helping to expand Ho Tram's investment, but also increasing the value of the project.
"It will contribute to the completion of the transport infrastructure system, opening up new development space and raising the land values for the locality and the region," he said.
With its total investment in Vietnam exceeding $1 billion, along with the road project, Ho Tram could qualify for additional investment incentives under Vietnam’s current regulations.
The Prime Minister urged Ho Tram company to continue expansion in Vietnam, further establishing Ba Ria-Vung Tau as a key tourism hub.
In 2024, the province welcomed over 16 million tourist arrivals in 2024, up 13% year-on-year, including nearly five million overnight visitors, up 11% year-on-year, according to the local tourism department.
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