The Airports Corporation of Vietnam (ACV) has submitted a proposal to the Ministry of Construction seeking approval in principle to serve as the investor for phase two of the Long Thanh International Airport project.
According to ACV’s report, phase two will include the construction of a new passenger terminal along with synchronous infrastructure, increasing the airport’s capacity to 50 million passengers annually and 1.5 million tonnes of cargo. The total investment is estimated at VND8 trillion (US$3.1 billion), to be financed from ACV’s own capital sources.
In particular, ACV has requested permission to begin with the investment project for the third runway and supporting facilities.
The outcomes of this initial implementation would then be reviewed and incorporated into the feasibility study for phase two, which will be submitted to the Minister of Construction for an investment decision.
The investment project for construction of the third runway and supporting facilities includes the main components such as the third runway, the taxiway system including the parallel taxiway system, rapid-exit taxiways, and connecting taxiways linked to the phase-one facilities, airfield equipment, signage and markings, and other synchronous supporting infrastructure.
The total investment is estimated at VND13 trillion (US$500 million), financed from ACV’s lawful capital.
Regarding the third runway, ACV essentially meets funding conditions to invest immediately, using post-tax profits from 2024 and the expected share dividend in 2025 in the form of stock to increase charter capital.
For the remaining components of phase two, ACV expects to finance them through its own capital and loans.
ACV said that it is currently the investor of Component Project No. 3 of essential facilities within the airport implemented by the airport operator.
The corporation has been investing in the entire airfield infrastructure and shared infrastructure of the airport and is also the airport operator as prescribed.
Therefore, ACV’s continued investment in phase two is necessary to ensure consistency and synchronisation in development, operation, and management of Long Thanh airport.
Based on its report, ACV proposed that the ministry approve in principle the assignment of ACV as the investor for phase two of the Long Thành International Airport project, which comprises an open-configuration runway, a passenger terminal, and other synchronous works to reach a capacity of 50 million passengers per year and 1.5 million tons of cargo per year, prior to issuing the investment approval.
According to the ministry, based on transport-demand forecasts, the phase-one feasibility study report had planned the research and investment timeline for phase two comprising the third runway and the second passenger terminal for the period between 2028-2030.
With the GDP growth scenario set to reach double digits from 2026, passenger throughput at airports nationwide – particularly at Long Thanh Airport – is expected to increase faster than previously forecast.
The ministry therefore believed that phase-two investment studies need to be conducted earlier than planned.
