An additional VND6 trillion (nearly US$263.5 million) will be needed for site clearance of Long Thanh International Airport project in Dong Nai Province from now till 2020, said Minister of Planning and Investment Nguyen Chi Dung at a conference on October 3.
An additional VND6 trillion (nearly US$263.5 million) will be needed for site clearance of Long Thanh International Airport project in Dong Nai Province from now till 2020, said Minister of Planning and Investment Nguyen Chi Dung at a conference on October 3.
Resettlement and site clearance compensation for the project will cost over VND23 trillion, according to a report of Dong Nai Province. The National Assembly has allowed the project investor to use VND5 trillion from G-bond sales in the 2017-2020 period for these components.
However, Dung said this is just the initial estimation. The latest plan indicates that the project will need VND11 trillion for site clearance alone from now until 2020. If the plan is approved, the country will face a shortfall of VND6 trillion, which has not been included in the medium-term public investment plan in 2016-2020.
Dung said the money for this extra investment will be pooled from State projects that have been canceled.
Speaking about slow capital disbursement for the project, Dung pointed out several reasons, both subjective and objective, including complicated procedures.
Dung said disbursement rate in the first nine months of 2017 was just 51% for public investments. However, disbursement is often accelerated in the last months of the year.
Long Thanh International Airport is a project of national importance, and will have total capacity of 100 million passengers and five million tons of cargo a year.
The project was approved by the NA in June 2015. Its total cost is estimated at VND336.6 trillion (US$16 billion), with the first stage requiring VND114.45 trillion.
(Source:SGT)
