HAGL Agrico hands over Nong Khang airport to Laos

The project has a total investment capital of 82 million USD under the construction-transfer form between Hoang Anh Gia Lai International Agricultural Joint Stock Company (HAGL Agrico) and the Lao government.

The airport is built according to the standards of the International Civil Aviation Organization, with a capacity to serve 100,000 passengers per year and accommodate aircraft with 70-100 seats.

The funding for the project construction is provided by Hoang Anh Gia Lai Joint Stock Company (HAGL) through a loan agreement with the Lao government, represented by the Ministry of Finance of Laos. In December 2019, the project changed its borrowing entity from HAGL to HAGL Agrico.

In 2021, Thaco Group took over and operated HAGL Agrico Company, and at the same time, Thaco also took over the Nong Khang Airport project to continue accelerating the handover progress.

According to Thaco, during the process of taking over the project, the company encountered many difficulties as the project had exceeded the contract implementation period, and the incurred costs had not been approved, along with the consecutive outbreaks of Covid-19 in 2021 and 2022.

On May 9th, 2022, when allowed to enter Laos by the Lao government, the contractor mobilized personnel to the construction site and organized the completion of the project as planned.

Nong Khang Airport plays a strategic role in the economic development of Houaphanh Province in particular and the northeastern region of Laos in general, facilitating rapid connections between the region and the capital, Vientiane, and other provinces and cities.

Furthermore, Nong Khang Airport is located in the economic trade gateway area between Laos and Vietnam, serving as an important factor in promoting cross-border import-export development between the two countries.

@Zing News