Thanh Hoa proposes $315 mln for Tho Xuan Airport upgrade project

The People's Committee of central Thanh Hoa province has submitted a proposal to the Ministry of Construction to upgrade Tho Xuan Airport with a total investment of VND8.015 trillion (nearly $315 million).

The proposal outlines two component projects, with significant reliance on socialized capital (private investment) for key infrastructure development.

Component Project 1, under public-private partnership (PPP) model, involves investment capital estimated at VND4.2 trillion ($165 million). Key initiatives include constructing passenger terminal T2, expanding the aircraft apron to accommodate 16 positions, building a cargo terminal, and developing an internal transportation system and parking facilities. Additionally, a technical service and aviation commercial center will be established.

Component Project 2 will be funded by State budget, totaling VND3.815 trillion (nearly $150 million). This phase will focus on land clearance, the construction of a second runway, and the enhancement of the taxiway system.

Once implemented, the proposed upgrades are expected to shorten the operation and capital recovery period of the PPP project to around 35 years, thereby increasing its appeal to private investors.

Tho Xuan Airport, managed by the Airports Corporation of Vietnam (ACV), is a key dual-use (military and civil) airport in Vietnam’s North Central region. Since its transition to civil operation in 2013, passenger volume has grown substantially, surpassing the designed capacity of terminal T1, which accommodates 1.2 million passengers annually.

As part of the development plan through 2030, the airport’s capacity will be expanded to five million passengers annually.