The Bank for Foreign Trade of Viet Nam (Vietcombank) has proposed to fund the expansion project of Tan Son Nhat International Airport in HCM City.

Vietcombank has sent the proposal to the Airport Corporation of Viet Nam (ACV), which will invest in a part of the expansion project.

The project cost is estimated at around VND19.35 trillion (US$846.3 million). While capital for work on the airfield is expected to be mobilised from the State budget, the rest of the funds will come from the ACV and private investors.

As per the ACV’s plan, Tan Son Nhat airport will be expanded from 574 hectares to 612.2 hectares to accommodate passenger terminals T3 and T4, the apron will be expanded, and traffic systems will be built.

Nghiem Xuan Thanh, chairman of Vietcombank, told baodautu.vn that this is a key project for the country, which will not only improve economic efficiency but also benefit society as well as the political establishment.

Tan Son Nhat airport now serves 28 million passengers per year even though its capacity was planned to be only 25 million per year until 2020. — VNS