NA approves special site clearance mechanism for Long Thanh International Airport

22/06/2017, 15:13

A careful consideration

With decisive majority, the National Assembly (NA) has passed the resolution on dividing Long Thanh International Airport’s resettlement and site clearance compensation into different component projects.

A possible design for Long Thanh International Airport

At the June 19 meeting, the National Assembly Standing Committee said that the Long Thanh International Airport project has been seriously considered by the government for a very long time. Also, when giving the in-principle agreement to implement the project, the NA carefully considered many aspects and was clear on the necessity of the component projects.

The overload of Tan Son Nhat International Airport and the increasing demand for air transportation lead to the urgency to build Long Thanh International Airport.

As site clearance is time-consuming and may hold a lot of obstacles, potentially increasing costs if the site clearance period is extended, the NA Standing Committee proposed to divide resettlement and site clearance compensation into different component projects in order to ensure the project stays on schedule and to cut expenses.

Shortage of fund for site clearance

Numerous NA deputies requested the government to clarify the funds used for resettlement and site clearance compensation.

The NA Standing Committee said that based on the obtained information and the latest updated prices from the Dong Nai People’s Committee, the total estimated cost for site clearance, including the construction of resettlement and cemetery areas, is about VND23 trillion ($1 billion).

Currently, the government provides the Long Thanh project with VND5 trillion ($220 million) for the medium- and long-term plans on site clearance. However, this amount accounts for only 21.7 per cent of the actual funds necessary.

After resettlement and site clearance compensation are allowed to be divided into component projects, the government will direct related agencies to conduct a feasibility study report for each smaller projects as well as a detailed site clearance plan in order to calculate the exact amount of investment needed. This will be a foundation for the prime minister to direct related agencies to carefully prepare the needed capital and report to the NA for consideration.

The resolution on dividing resettlement and site clearance compensation into component projects stipulated that the total land area for the Long Thanh International Airport project was 5,000 hectares, including the acreage for resettlement and cemetery areas, as well as other auxiliary construction.

In accordance with the documents that will be submitted to the 2017 annual shareholders’ meeting at the end of June, Airports Corporation of Vietnam (ACV), the developer of Long Thanh International Airport, will deploy six projects on upgrading aviation infrastructure nationwide with the total investment of about VND6.050 trillion ($266.2 million).

Among these six projects, the project on expanding the 21-hectare airfield and two passenger terminals of Tan Son Nhat International Airport will receive the largest investment sum of about VND2 trillion ($88 million).

In 2017, ACV targets to handle 91 million passengers and 1.182 million tonnes of cargo. These figures are 13 and 5 per cent higher than last year’s target. It is expected that total revenues generated will be VND13.293 trillion ($584.9 million), pre-tax profit will be VND3.669 trillion ($161.4 million), and the dividend payout ratio will be 9 per cent.

One of ACV’s core missions in 2017 is to restructure the company and negotiate with its strategic shareholder Aeroports de Paris (ADV). Previously, in March 2017, according to newspaper Nikkei Asia Review, the Vietnamese government has given permission for ACV to sell 20 per cent of its stakes to ADP. Thus, the Ministry of Transport’s stake in ACV decreased to 75 per cent from the previous 95.4 per cent.  

Source: VIR


Related articles

(0) Comments
Focus
Rural tourism is on the rise
BTO- Last Saturday, I went to Cam Binh Beach (Tan Phuoc commune, La Gi town) at the Anh Chau couple's invitation. This is not the first time I have been to La Gi or Cam Binh Beach, but it has been more than 5 years since I had the chance to return, partly due to COVID-19 and not having any related work. Cam Binh Beach is now very different from previous years because of the scene of bustling tourism.
Do not miss
  • Rural tourism is on the rise
    16 hour ago LANDSCAPES
    BTO- Last Saturday, I went to Cam Binh Beach (Tan Phuoc commune, La Gi town) at the Anh Chau couple's invitation. This is not the first time I have been to La Gi or Cam Binh Beach, but it has been more than 5 years since I had the chance...
  • Binh Thuan welcomes nearly 8 mln tourist arrivals
    16 hour ago Travel
    BTO - In October, Binh Thuan tourist destination has welcomed over 800,000 visitors, an increase of 2.89% compared to the previous month and nearly 15% compared to the same period in 2023. Specifically, there were about 25,900 international...
  • ‏"El Pulga" was not on the list‏
    14 yesterday Sports
    ‏90% of football players at this age have to retire due to the rule of time; however, ‏‏ ‏‏Lionel Messi still surprises the soccer world with his super performances. But somehow, "El Pulga" was not included on the 2024 Ballon d'Or nominees...
  • The "Big Four" era has passed
    15 yesterday Sports
    BTO - After Carlos Alcaraz beat Jannik Sinner in the China Open final, two ATP 500 records from 2009 were reset. This breathtaking competition between two young players makes the "Big Four" become a past.
  • Farewell “Rafa”
    15 yesterday Sports
    BTO- Recently, Rafael Nadal officially announced his upcoming retirement after his final match at the Davis Cup in Malaga this November. Rafael's announcement left sorrows for tennis fans since the world will officially no longer witness...
  • Binh Thuan Rice: Towards the Gia An Rice Brand
    15 yesterday Business
    BTO - With proactive efforts in seeking new high-yield rice varieties and pioneering the application of scientific and technical advancements in production, the Gia An Agricultural Service Cooperative, located in Gia An commune, Tan...
  • Convergence of Binh Thuan Specialties at the Southern Region Exhibition
    20 yesterday Business
    BTO - From October 10 to 16, the 2024 Southern Region Exhibition of Typical Rural Industrial Products takes place in Phu Quoc City. The event is organized by the Local Industry Department (Ministry of Industry and Trade) in collaboration...
  • Binh Thuan heads towards digitalization for Tourism Development
    20 yesterday Travel
    BTO - Although Binh Thuan possesses the features to develop tourism, in the new context, these are not enough. Hence, Binh Thuan has been gradually implementing digital transformation in the province's "green economy" sector intending...
  • Nole's “nemesis”
    21 yesterday Sports
    BTO - The Shanghai Masters 2024 final ended with the victory of the current world No. 1. This is Sinner's second victory over Djokovic in 2024. Sinner also defeated his senior in the Australian Open semifinals this year. Although Djokovic...
  • Binh Thuan Agriculture to embrace Digital Transformation and Green Transition
    21 yesterday Business
    BTO - Currently, agricultural production in Vietnam, particularly in Binh Thuan, is facing direct challenges from extreme climate impacts. Therefore, it is imperative that we take action to reduce greenhouse gas emissions in alignment...
  • Toothless Lions
    24 yesterday Sports
    For the past ten years, theEnglandteam could not be completed without the name Harry Kane on the squad. Harry's presence guarantees a positive result for the "Three Lions" in every match; therefore, one day the "Three Lions" will be...
  • Stumbling the champions
    26 yesterday Sports
    Lionel Messi could be on the pitch (since winning the Copa America 2024) in the match against Venezuela in the 2026 World Cup qualifiers in South America, which will occur at 04:00 on October 11. However, with the home advantage, Venezuela...
  • Phan Thiet Smart City Operation Center (IOC): The “Digital Brain” of a Smart City
    27 yesterday Society
    BTO - In the journey towards establishing a smart city, the operation of the Smart City Operation Center (IOC) in Phan Thiet is regarded as a significant milestone. The IOC is likened to the “digital brain” of the city, capable of integrating...
  • Unstoppable "Nole"
    27 yesterday Sports
    Young talented Italian, Flavio Cobolli faced Novak Djokovic in the third round of the 2024 Shanghai Mastersfull of youth energy, hoping to pass a long-standing statue of thetennis field. Still, everything was just "fantasy" for the...
  • A legendary retirement in football
    28 yesterday Sports
    In 2024, world football witnessed many farewells. They were Tony Kross of Germany, Pepe of Portugal, Di Maria of Argentina, Griezmann of France...; and this time, a Spanish player - Andres Iniesta. He officially announced his retirement...
  • Djokovic “Age is just a number”
    one month ago Sports
    On October 5, the Shanghai Masters witnessed the top 4 seeds Sinner, Zverev, Alcaraz and Djokovic all play. The match between Djokovic and Michelsen was extremely tense with two tie-breaks. However, Michelsen’s youth still could not...
  • Suspect for Snatching a Foreign Tourist’s Handbag promptly arrested
    one month ago NEWS
    BTO - On October 4, the Investigation Police Agency of Phan Thiet City issued a decision to temporarily detain the suspect V.T.T (born in 1997, residing in Luong Son Town, Bac Binh District) to investigate the act of “robbery and theft.”
  • The “Phoenix” has returned
    one month ago Sports
    In 2023, Quang Hai - the "brightest" star of Vietnamese football returned after an unsuccessful period playing for a French team, Pau FC. Just 1 year later, another star returned to Vietnam with a less than enthusiastic vibe after more...
  • Recognize Golden Linga  as a national treasure and celebrate Kate Festival 2024
    one month ago Culture
    BTO- On October 2 morning, at the Po Sah Inư Tower relic, Phan Thiet City, the ceremony to announce Binh Thuan Golden Linga as a national treasure following the Prime Minister's decision and celebrate the Kate Festival 2024.
  • Binh Thuan had a good effect on international friends
    one month ago Sports
    After five days of competition, the 76th World Individual Carom 3-Cushion Billiards Championship ended with a dramatic and fascinating final match between the two players Cho Myung-Woo (5th world rankings) and Tran Thanh Luc (21st world...
POWERED BY ONECMS - A PRODUCT OF NEKO
NA approves special site clearance mechanism for Long Thanh International Airport