(MPI) – The Prime Minister has issued Decision No. 1621/QD-TTg adjusting the investment policy for the Sa Pa Airport construction project in Lao Cai province under the public-private partnership model.
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| Illustration photo. Source: Internet |
According to the Decision, the adjustment of the investment policy for the Sa Pa Airport construction investment project in Lao Cai province under the public-private partnership model has been approved by the Prime Minister in Decision No. 1773/QD-TTg dated October 21, 2021 with the following contents: Regarding the expected project implementation period, according to the initial investment policy in Decision No. 1773/QD-TTg, the expected project implementation period is 50 years (expected construction period: 04 years; operation, exploitation and capital recovery period: 46 years). In Decision No. 1621/QD-TTg, the adjustment is: Expected project implementation period: Component project 1 (Site clearance and resettlement) is 05 years.
Component Project 2 (Construction of Airport): Contract term 47 years (time for technical design appraisal, construction drawing design, organization of contractor selection: 01 year; operation, exploitation and capital recovery time: 43 years 11 months; estimated construction time of phase 1 is 02 years 01 month); construction time of phase 2 years during the operation, exploitation and capital recovery time of the Project (during the construction of phase 2, the Project still organizes operation and exploitation so it does not affect the financial plan of the Project).
Project implementation schedule: Phase 1 from 2021; Phase 2 from 2028.
Regarding the expected land use demand: the expected land use demand remains at 371 hectares, however, Decision No. 1621/QD-TTg clearly states that the entire 371 hectares will be cleared in phase 1, to be completed in 2025; the construction area of phase 1 is 295.2 hectares; the construction area of phase 2 is 75.8 hectares.
The preliminary total investment of the project remains at 6,948.845 billion VND, however, the investment level has been adjusted in each phase. Specifically, the total investment in phase 1 is 4,295.289 billion VND (an increase of more than 111 billion VND compared to the original plan), of which Component Project 1 is Site Clearance and Resettlement: 555 billion VND; Component Project 2 is Airport Construction: 3,740.289 billion VND.
The total investment in phase 2 is 2,653,556 billion VND (a decrease of more than 111 billion VND compared to the original plan) to implement Component Project 2, which is the construction of an airport.
The capital structure has also been adjusted. According to Decision No. 1621/QD-TTg, Phase 1: Capital mobilized by investors (equity, credit capital) is 2,192,918 billion VND; State capital participating in the project is 2,102,370 billion VND.
Capital structure of phase 2: Capital mobilized by investors (equity, credit capital) is 1,339,845 billion VND; State capital participating in the project is self-balanced by the locality in the period 2026 - 2030: 1,313,711 billion VND./.
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