The expansion works include Noi Bai airport’s parking ground and expansion of terminal T2.
As per the plan, the terminal T2 will be designed to receive 10 million passengers a year. Moreover, the expansion work will be carried out to serve 15 million every year.
According to the Aviation Authority’s estimation, the expansion of the terminal T2 will cost VND96 billion within 12 months. Additional items of the terminal T2 are worth VND64 billion.
Total spending of construction is VND460 billion and it will be finished in 24 months.
The Aviation Authority proposed utilizing surplus of the construction project of the airport’s terminal which use official development assistance (ODA) of 59.2 yen (approximately VND12,000 billion) from the Japanese government and the reciprocal capital of VND6.145 billion from the Vietnamese government.
The terminal had been operated since December, 2004.
The project’s remaining capital is 3.74 billion yen out of 5 billion yen of the agreement’s undisbursed balance. Hence, the remaining will be used for the project’s second phase.
In addition, the reciprocal capital will not spent because there is no need for site clearance spending.
The Aviation Authority has borrowed the sum and it has made profit because the passengers increased yearly ; however, it warned the overload will take place in next 11 years.