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Hanoi to Invest $5.5bn in New Airport Facility

Hanoi officials announced on Monday their plan to expand the capital's airport facilities at a cost of US$5.5 billion.

According to Thanh Nien, the Noi Bai 2 project will be built upon a 720-hectare site opposite the current airport. Site clearance for the new facility will carry a price tag of US$2 billion, with the remaining US$3.5 billion for construction.

As passenger growth climbs roughly 22% a year – the country saw record tourist arrivals in the first quarter of 2016 – Vietnam's Civil Aviation Authority (CAA) is struggling to keep up with increasing demand. Vietnam is ranked among the top 10 fastest-growing aviation markets in the world, according to the International Air Transport Association.

The CAA will seek private investment for Hanoi's new airport project, which aims to double the current capacity of Noi Bai International Airport to 50 million by 2030, reports VnExpress.

[Photo via Online Travel]


Related Articles:

Hanoi's Noi Bai Airport Named Among 100 Best in the World

Noi Bai, Da Nang Airports Ranked Among Best in Asia

New Noi Bai Terminal, Vietnam’s Largest, to Open Next Week


 

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