Long Thanh terminal construction set to begin in August

The plans for the $1.46 billion project were confirmed by the company's deputy director, Nguyen Tien Viet.

During a recent engagement with Dong Nai People's Committee on July 5, Viet shed light on the issue of compensation and land clearance, crucial prerequisites for the ambitious development.

June saw ACV begin the tendering process for the installation and construction of the passenger terminal equipment (Package 5.10), attracting the interest of three consortia. The vetting and selection process, currently underway, is set for completion in July.

"Concurrently, work on other segments such as the runways and aprons will be rolled out," Viet disclosed.

Dong Nai People's Committee has confirmed the availability of the requisite land for construction. The clearance of 1,810 hectares for the project's first phase, and a further 722ha of reserved land, has essentially been accomplished.

Package 5.10 comes in at an estimated value of over $1.46 billion, making it the project's most substantial segment.

In September 2022, this aspect of the project was initially put up for tender, but failed to attract suitable candidates. As a result, the ACV annulled and subsequently retendered the package. As of June 12, CHEC-BCEG-Vietnam Contractors, Hoa Lu, and Vietur were all in the running.

The Hoa Lu consortium comprises eight highly experienced domestic and international contractors, including Central, An Phong, Hoa Binh, Thanh An, Unicons, Delta, and Thailand's Power Line Engineering PLC. This consortium is headed by Coteccons Construction JSC.

The CHEC-BCEG-Vietnam Contractors consortium is made up of Thuan Viet, CDC, Xuan Mai, and Beijing Construction Engineering Group Co. Ltd., under the aegis of China Harbour Engineering Co., Ltd.

The Vietur consortium brings together ten members, with several domestic contractors including Ricons, Newtecons, Sol E&C, Vinaconex, and CC1. Turkey's Ic Istas Industrial and Trade Construction Group is acting as the lead.

With a total projected investment of around $14 billion, the Long Thanh International Airport project is envisaged in three phases. The inaugural phase, consisting of one runway, the passenger terminal, and supplementary segments, is expected to serve 25 million passengers per year and is scheduled for completion in 2025.

The second phase, aiming to boost capacity to 50 million passengers annually by 2035, will see the addition of another runway and terminal. The final phase is slated for completion by 2050, culminating in an airport with a capacity to handle 100 million passengers a year.

Hoa Binh Construction Corporation has recently passed a resolution to sell its entire stake in construction machinery firm Matec to supplement its business activities with additional capital.

Hoa Binh Construction Group has garnered interest from four potential partners for share issuance, including an Australian to is ready to invest $60-100 million. The group is focusing on capital mobilisation, debt recovery, loan restructuring, and divestment from underperforming subsidiaries.

Experts have emphasised the need to socialise airport infrastructure in Vietnam to address the overwhelming passenger demand that has already surpassed the existing capacity.