Airis’ airport plan gets its wings clipped

United States-based Airis Holdings LLC’ Noi Bai international airport investment proposal has been rejected.

According to the Ministry of Transport (MoT), the project to build a passenger terminal at the airport was handled by Northern Airports Corporation. Construction of the $804 million project will be kicked-off in the third quarter of 2011 and be completed in early 2014.

The project on upgrading the runway was developed by the Civil Aviation Administration of Vietnam (CAAV) which is currently in progress and will be completed in the fourth quarter of 2011.

The project on building a parking area connected to the terminal was also given to CAAV with construction beginning in the fourth quarter of 2011.

These projects will see Noi Bai international airport meet growing development requirements in the next decade.

The Noi Bai redevelopment project was introduced to promote private-public investment (PPP) model in Vietnam’s airport infrastructure development in late April 2011.

Accordingly, the airport will cover 3,500 hectares with investment expected to hit $5-6 billion.

The project looks at creating a big airport with a handling capacity of 22 million passengers per year.

The project is designed to be implemented under PPP form with the participation of some domestic and foreign investors as Airis International Holdings LLC, Zurich Airport, HSH Nordbank, German bank KFW, ADB and Vietnam Bank for Investment and Development-BIDV. – VIR

Tags: Airis Holdings LLC, Vietnam aviation, Vietnam aviation industry, Vietnam aviation market