Illustrative photo (Photo: VNA)
The lack of capital once hampered the building of the new runway. However, the province has got the green light for central budget allocation while mobilising other resources to ensure that the runway will be put into operation in 2018.
In addition, Khanh Hoa will also encourage enterprises to make investment in the international terminal construction project to professionalise the airport’s functions.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) committed to provide a loan worth over 2.98 trillion VND (132 million USD) for the terminal construction.
Accounting for 80 percent of total investment (3.75 trillion VND) of the project, the loans will be used to complete the first phase of the construction, which is expected to be fulfilled in early 2018.
The Cam Ranh International Airport was built by the US army to serve its military missions during wartime and was converted into a civil airport in 2004. It was upgraded to an international airport in 2009.
According to the provincial People’s Committee, the increasing number of passengers has exerted pressure on the Cam Ranh International Airport in recent years.
The airport received 1 million passengers in 2011 and the number escalated to nearly 4.9 million people in 2016. This year, the airport is expected to welcome 6 million passengers. Meanwhile, its designed annual capacity is 2.5 million passengers.
Bustling domestic and international flights operated by 16 airlines to the airport are attributed to the overload of the airport’s terminal.
Thus, the construction of a new runway and an international terminal is essential and urgent to meet the development needs of the province.