Investors plan to fund Cam Ranh airport terminal
As many as 12 companies plan to invest in a new international passenger terminal at Cam Ranh airport in the Vietnamese central coastal province of Khanh Hoa.
Phu Long Real Estate Joint Stock Company, VietJet Aviation Joint Stock Company, HDBank and Investment Mining Port Corporation (Import Corp) are among the newest investors, according to a report in Dau Tu (Investment) newspaper.
Others include Aviation Logistics Corp and Vietstar Airlines (from the aviation sector), Golf Long Thanh and Imex Pan Pacific Corp (from the real-estate sector) and Duc Binh Group, Viet Xuan Moi and Dai Dung (from the construction sector).
Dao Viet Dung, deputy general director of the Airports Corporation of Vietnam (ACV), said this was the largest group of investors to have ever taken part in an aviation infrastructure project in the country.
The terminal project, to be managed as a BOT (build-operate-transfer) operation, is estimated to have investment capital of 2 trillion dong (Bt3.2 billion).
The project will address the rapidly increasing number of passengers at the airport. The current 13,995-square-metre terminal has a capacity of 1.6 million passengers per year.
In 2013, the airport received more than 1.5 million passengers, but by 2014 passenger numbers had greatly exceeded capacity. The number of passengers has increased by 25 per cent per year.
The new terminal is expected to welcome 2 million international passengers per year.
The ACV said capital would be mobilised from domestic private companies through a BOT scheme or through a newly established joint-venture company, which would have capital contributions from the ACV.
To ensure service quality, airlines that are shareholders would not be allowed to own more than 30 per cent of charter capital of the joint venture.
Founding shareholders (a minimum of three) of the joint venture, including ACV, would not be allowed to withdraw or transfer capital for five years after the establishment of the joint venture.
