Lào Cai to increase local budget contribution toward Sa Pa airport to attract private capital
Lào Cai to increase local budget contribution toward Sa Pa airport to attract private capital
Lào Cai Province People’s Committee has proposed raising the local budget capital contribution toward developing an airport in Sa Pa in order to attract private investment into this project.
Foreign tourists visit Sa Pa, Lào Cai Province. The northern mountainous province is calling for private investment for developing an airport in Sa Pa. — VNA/VNS Photo Quốc Khánh |
Accordingly, the local budget will contribute a total of VNĐ3.456 trillion, instead of VNĐ2.730 trillion as previously proposed.
Under the Prime Minister’s Decision 1773/QĐ-TTg dated on October 21, 2021, Sa Pa Airport will have a total investment of VNĐ6.948 trillion and be implemented under the public-private partnership (PPP) model. Capital contribution from the State budget will not exceed 50 per cent of the project’s total investment.
To date, the project has not found a private investor.
Bảo Yên District where the airport will be located, has basically completed site clearance and relocation for the implementation of the first phase of the project with a total expense of VNĐ420 billion. The total cost of site clearance for the entire project is estimated at VNĐ555 billion, VNĐ137 billion lower than the approved figure.
Sa Pa Airport, covering 370 ha in Cam Cọn Commune, is to be developed into a joint-use airport, serving both military and civilian purposes with a capacity of receiving 1.5 million passengers per year in the first phase.
