The Da Nang international terminal. The facility is expected to soon be unable to serve an increasing number of passengers. — Photo cafef.vn

DA NANG (Biz Hub) — The Bank for Investment and Development of Viet Nam will arrange capital for the construction of a new terminal to serve international flights at Da Nang Airport.

The bank, also known as BIDV, signed the credit contract in principle with the Da Nang International Terminal Investment and Exploitation Company in the central Da Nang City on November 15.

The project is worth more than VND3.5 trillion (US$156 million), of which BIDV and the Viet Nam Bank for Industry and Trade, or Vietinbank, will jointly finance VND2.9 trillion ($129 million).

BIDV said in a press release that current infrastructure at the airport will soon be unable to serve an increasing number of passengers, which are growing at an average rate of 14.5 per cent per year here.

The new terminal is thus necessary, and it is set to serve more than 3.1 million international passengers every year by 2022, and four million by 2025. This capacity may also be expanded to six million by 2030.

The facility is expected to go on stream and serve a summit of the Asia-Pacific Economic Cooperation forum in the city in 2017.

The existing Da Nang international terminal, which is among the largest of its kind in Viet Nam, will be changed into a domestic terminal after the new one comes into operation.

Last month, Deputy Minister of Transport Nguyen Nhat announced an adjusted master plan for Da Nang Airport, after which the airport is set to serve 11 million to 13 million passengers per year by 2020.

It will also be able to handle 50,000 tonnes of goods per year by that time.

Da Nang is a major economic hub of the nation, with importance in trade, finance, industrial development and tourism.

The city is situated close to world heritage sites such as Hoi An ancient town, My Son sanctuary and Hue ancient capital. — VNS