A US$1.8 billion contract has been signed for the construction of project 3 of the Long Thanh international airport investment, the largest airport in Vietnam. The credit contract comprises of a US$1 billion loan from the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), USD 450 billion from the VietinBank, and USD 350 million from the BIDV.
Completion Date
Construction of the first phase of the airport is expected to be completed in 2026. This phase will handle the movement of 25 million passengers and 1.2 million tons of cargo goods a year. After all phases are completed, the airport capacity will reach up to 100 million passengers per year. It aims to become one of the international air transit centres of the region. Furthermore, estimates show that by 2030, Long Thanh Airport will contribute about 0.98% of Vietnam’s GDP, creating 200,000 jobs.
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Construction Cost
The airport will be completed in three phases of construction totalling US$13.3 billion. This is the project with the largest amount of capital financing in the banking industry. Moreover, it is the first project to be arranged entirely with medium-long-term dollars from Vietnamese commercial banks with more competitive conditions than the investor of Airports Corporation of Vietnam to borrow capital directly from international financial institutions.
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Speaking at the Prime Minister Pham Minh Chinh pointed out that the construction project of Long Thanh International Airport is a special level project. It symbolizes strategic importance to the socio-economic development of the Southern Key Economic Region. Additionally, it symbolises the development of Vietnam’s aviation industry and the country’s socio-economy in the coming years.
Construction Team
Designed by Heerim Architects, the terminal building takes the form of a blooming lotus flower. Furthermore, it boasts an impressive total GFA of 373,000m². The concourse will feature a complex clear span roof spanning 82m. Arup has been appointed as the structural engineering and civil engineering consultancy for the detailed design stage of the terminal building.
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The structural design presented numerous challenges, including geometric manipulation, rationalisation, complex geometry, iterative design, and a tight schedule. To overcome these challenges, our structural team used digital tools such as Rhino Grasshopper. This facilitated the structure modelling in the GSA software so that the analysis model could be updated quickly to match the tight schedule while handling the intricacies of the complex roof geometry.
On behalf of the Government, Prime Minister Pham Minh Chinh welcomed and praised the positive efforts of Vietcombank, Vietinbank, BIDV. Additionally, the close monitoring and coordination of the State Bank of Vietnam, which quickly helped arrange a large amount of USD 1.8 billion in financing to promptly support the Investor of Airports Corporation of Vietnam to sign the contract construction contracts with contractors, meeting the project implementation schedule at the request and direction of the Prime Minister.
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