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$92 million international terminal at Cam Ranh proposed

Released at: 16:54, 23/06/2015

$92 million international terminal at Cam Ranh proposed

New terminal would address the overloading already being experienced and boost socio-economic development in Khanh Hoa province.

by Hoai An

A partnership between the Viet New Spring Corporation and the Duc Binh Corporation has proposed a plan to the Ministry of Transport on building a separate international terminal at Cam Ranh International Airport, which serves the popular beach city of Nha Trang, according to the Vietnam National Administration of Tourism.

The project will have total investment of VND1.98 trillion ($92 million), excluding interest, and a payback period of about 21 years.

In recent times the number of passengers passing through the airport has increased rapidly. In 2013 it handled 1.5 million and by 2014 was overloaded, especially in the departure waiting area.

“The construction of an international terminal has become urgent, to separate the airport into two terminals, domestic and international, in order to meet growing demand in the future,” said Ms. Nguyen Thi Quyen, General Director of the Viet New Spring Corporation.

To raise capital the partnership suggested two options: raising funds from domestic private enterprises under the build-operate-transfer (BOT) mode, or establishing a project management board or a joint stock company with the participation of Airports Corporation of Vietnam (ACV).

“Mobilizing capital from the private sector will accelerate the implementation of the project,” Ms. Quyen said. “Upon completion the project will also boost socio-economic development in Khanh Hoa province and contribute to the task of protecting national security.”

If the Ministry of Transport gives its approval the partnership will then prepare a pre-feasibility study. Investors would be selected during this year and next and from 2016 to 2018 the project will be constructed, completed, and put into operation.

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