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| Foreign firms can hold 30% stake in US$8b airport project |
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24/Dec/2008 Intellasia | Dow Jones |
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24 Dec, 2008 - 1:07:31 PM |
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Foreign investors may hold a stake of up to 30% in an US$8-billion project to build an international airport in southern Vietnam, the government said Wednesday.
The Long Thanh Airport will cover 5,000 hectares in Dong Nai province, 50 kilometres northeast of HCM City, the government said on its Web site.
It said state-owned companies will collectively hold a 70% stake in the planned joint stock company, which will build and operate the airport.
State-run Bank for Investment & Development of Vietnam will hold an 11% stake, the government said.
"Long Thanh Airport will be capable of competing against other major airports in the (Southeast Asian) region," it said.
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