Foreign Investors May Join Vietnam Firm in $1 Billion Airport Upgrade Project

Tuan Minh

11:48 02/03/2016

BizLIVE - Two companies from the U.S. and South Korea have showed interest in joining a Vietnamese firm in a $1 billion project to upgrade Chu Lai Airport.

Foreign Investors May Join Vietnam Firm in $1 Billion Airport Upgrade Project

Passengers from Ho Chi Minh City land on Chu Lai airport. (Photo: beta6.caa.gov.vn)

Central Vietnam-based Thien Tan Group has been working with two companies from the U.S. and South Korea for a possible tie-up to upgrade Chu Lai Airport at a cost of $1 billion, the Dau Tu (Investment) newspaper reported.
The two investors will arrive at the group’s headquarters in Quang Ngai province to discuss next steps to implement the project, said Thien Tan Group Chairman Huynh Kim Lap, tipping that the Ministry of Transport has agreed the firm to lead the upgrade project.
The Vietnamese firm earlier proposed upgrading and expanding the airport under the Build-Operate-Transfer (BOT) format. Once finished, the facility will help boost investment in Dung Quat and Chu Lai economic zones and tourism development in Quang Ngai and Quang Nam provinces.
Covering an area of 3,400 hectares, mostly in Quang Nam province, Chu Lai Airport now serves 34 flights per week of three domestic airlines namely Vietnam Airlines, VietJet Air and Jetstar Pacific.
A number of international players are interested in investing in airports in Vietnam where the aviation market grows at a two-digit pace annually.

TUAN MINH