The decision has been made to split the project timeline into two components: Component 1 will focus on land clearance and resettlement, expected to take five years, while Component 2 will involve the construction of the airport with a contract duration of 47 years, divided into two phases. Phase 1 of the project commenced in 2021, and Phase 2 is anticipated to begin in 2028.
Specifically, the time allocated for the approval and design process, as well as the selection of contractors, is one year. The operation, exploitation, and capital recovery phase is expected to last for 43 years and 11 months. The construction duration for Phase 1 is estimated at two years and one month, while Phase 2 is planned to be completed within two years during the operation, exploitation, and capital recovery phase of the project. It is important to note that the airport will remain operational during the construction of Phase 2, ensuring no impact on the financial plan.
The airport’s land requirement remains unchanged at approximately 371 hectares. However, the decision emphasizes that land clearance will be completed in full during Phase 1 and is targeted for completion by 2025. Phase 1 will cover an area of 295 hectares, while Phase 2 will encompass nearly 76 hectares.
The preliminary total investment for the project remains at nearly VND 7,000 billion, but with adjustments made to the investment levels in each phase. Specifically, the investment for Phase 1 is nearly VND 4,300 billion, an increase of over VND 111 billion compared to the initial plan. This includes approximately VND 555 billion for land clearance and resettlement, and an estimated VND 3,700 billion for the construction of the airport. Conversely, the investment for Phase 2, which involves the construction of the airport, will be reduced by VND 111 billion from the initial plan, resulting in a total of over VND 2,600 billion.
The capital structure has also undergone adjustments. According to the decision, Phase 1 requires nearly VND 2,200 billion from the investor (including owner’s equity and credit capital), while the state will contribute approximately VND 2,100 billion. Similarly, during Phase 2, the investor and the state will contribute over VND 1,300 billion each, with the state’s portion being self-balanced by the locality during the 2026-2030 period.
 Overall perspective of Sa Pa Airport Project
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