Vietnam has given the Sapa Airport PPP the greenlight.
Approved late last week by the country’s deputy Prime Minister Le Van Thanh, the airport expansion will see the tourist hub’s facilities expanded to a capacity of 3 million passengers per year, and enable it to receive larger aircraft including Boeing 737s and Airbus A320s.
The 50-year concession will require over $300m of investment, $173m of which will be supplied by the private sector – with land acquisition provided by the public sector.
Last week, the International Finance Corporation said PPPs had a “critical” role to play in the East Asian nation’s Covid-19 recovery – highlighting the “positive measures” put in place by the recently passed PPP law.