A credit contract worth over 2.98 trillion VND (131.12 million USD) was signed on February 27 for the project on building a new international terminal at the Cam Ranh airport in the central province of Khanh Hoa.
The sum, which accounts for 80 percent of the project’s total cost, will be equally shared between the Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank).
The construction of the two-storey terminal began in September last year and the first phase is expected to finish in the first quarter of 2018.
Once entirely operational in 2030, the facility, which covers 50,000 square metres, will be capable of serving 8 million visitors annually, with a maximum throughput of 4,000 passengers in the rush hour.
Cam Ranh airport was built by the US 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.
Previously, in March 2015, Khanh Hoa pumped over 1.9 trillion VND (87.12 million USD) into building a second taxiway at the airport, which is scheduled to be put into use in early 2018.
The airport received one million passengers in the first two month of 2017. The figure is expected to hit 6 million by the end of the year.