Dang Bao Khanh, SeABank general director and Pham Thanh Binh, director of Hai Phong City's Department of Finance sign the funding contract.— VNS photo

HA NOI (Biz Hub) — Southeast Asia Commercial Joint Stock Bank (SeABank) agreed to lend US$23.8 million for additional construction at Cat Bi International Airport in Hai Phong on June 25.

Hai Phong City People's Committee and the Airports Corporation of Viet Nam are investors in the project, valued at $240 million, which is designed to handle 2 million passengers per year, equivalent to 800 passengers per hour at peak times, as well as 20,000 tonnes of cargo by 2015.

The project also involves building a new runway, measuring more than 3,000m long and 45m wide, in a ​​162.36 ha area which will include a system of braking, as well as systems that guarantee the safe landing for Boeing B777, B747, B767, A321 and equivalent aircrafts.

The expansion of Cat Bi Airport, which began in September 2013, was built with the expectation to become a stand-by to International Noi Bai Airport in the capital city and is also expected to attract investments to the port city of Hai Phong, as well as other northern coastal localities.—VNS