Ministry of Planning and Investment
Sunday, 01/10/2023
Business Matching
Sa Pa Airport approved, to cost $305 mln
Friday, 22/10/2021 04:52
Sa Pa Airport approved, to cost $305 mln

An airport will be built in the northern mountain resort town of Sa Pa, Lao Cai Province, at a cost of VND6.95 trillion ($305.24 million) under public-private partnership mode.

To have a capacity of 1.5 million passengers a year, its construction will start this year, according to a government decision signed Thursday by Deputy Prime Minister Le Van Thanh.

Its capacity will double to three million passengers following a second phase that will begin in 2028.

Land acquisition will be funded by the public component, and construction by private companies.

The government will contribute 39 percent of the funds, and private investors the rest. The airport is expected to take 46 years to break even.

Sa Pa Airport is one of six new airports approved for construction by 2030.

Vietnam has 22 airports at present.

In the first six months, Lao Cai welcomed 1.1 million passengers, up 21 percent year-on-year, according to the Ministry of Culture, Sports and Tourism.

Readed: 585