Dong Nai Province has unveiled its plans to acquire land for the new Long Thanh International Airport. The plan, approved by the central government, allocates $987 million USD to acquire 5,400 hectares of land in Long Thanh District. Dong Nail Rubber Corporation currently owns the majority of the land that will be acquired for the airport.
The Long Thanh International Airport, will be built in three phases over three decades, and is set to become Vietnam’s largest airport. The new airport will be 40 kilometers east of Ho Chi Minh City, which is currently served by Tan Son Nhat (TSN) airport.
TSN was designed to handle 25 million passengers per year, but is currently serving 32+ million passengers per year. Although there are expansion and upgrade plans for TSN, it will still be at maximum capacity and the Long Thanh International Airport is urgently needed to handle the additional capacity needed for the greater HCMC metro area.
Nguyen Van The, Minister of Transport, told legislators in October that the government planned to approve the land acquisition plan this month, and begin to release funds for land acquisition and the relocation of families effected by the airports development.
The Long Thanh International Airport has already received a vast amount of global publicity, and a recent “CNN Travel Report” said that is among the world’s 16 most exciting airport projects. The first phase of the new airport is scheduled for completion in 2025 when it will be able to handle 25 million passengers annually. The next phases of the airport will be built in 2030~35 and in 2040~2050. When fully complete, the airport will have the capacity to handle 100 million passengers and five million tons of cargo per year.
The new airports first phase is estimated to cost $4.87 billion USD and will be raised from public funds, a bond issue and private sources. Experts have advised the government that to do everything possible to complete the first phase of the airport on time and recommend that phase two and three development should be speeded up and completed 10 ~ 15 years ahead of the current schedule. They are concerned that the costs for the airport could double every five years and stress that adherence to the airports development timeline is crucial to the airports financial success.