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Spanish infrastructure firm opens office
Garuda Asea Co, a Spanish construction management company of seaports and airports, has established a representative office in Ha Noi.
The Garuda Trade Co SL office provides consulting, investment and construction services for infrastructure projects including market surveys, trading and others. The office will promote co-operative projects between Spain and Viet Nam and is set to operate until 2018.
The representative office will support Garuda’s activities in Viet Nam. It first came to the country more than two years ago to begin a US$8 billion BOT (Building-Operation-Transferring) project for construction of the new international Ha Noi – Hai Duong airport and a world standard aviation and duty free trade centre.
"Under the BOT project, the Government will grant rights for 30 years or more to investors for project execution and to pay principle debts," said Garuda Viet Nam.
Project construction is expected to begin this year after completion of the feasibility study. The first of three phases will cost about $4 billion and run until 2013. Phase two will run in at $1.5 billion and last from 2013-18. The final phase will cost $2.5 billion.
Completion of phase one will see a capacity of 480 flights per day and 35 million passengers per year. Capacity will grow to about 850 flights daily and 62 million passengers annually by 2028, and to 1,096 flights daily and 80 million passengers annually by 2035.
The project is located on a total area of 50sq.km in northern Hai Duong Province, 45km from Ha Noi. The airport will be equipped with advanced technology, facilities, security, and information and management systems. It is expected to generate 5,800 jobs.
Garuda also plans to build a hotel and apartments for 1,500 people. The new airport is due to replace the overloaded Noi Bai International Airport, which will likely be relegated to domestic flights only. Noi Bai has reached its full capacity at over 15 million passengers annually.
"Besides this project, Garuda Viet Nam is also looking into plans to invest in Van Don and Chu Lai Airports," said Giuliano Miotti Koenigsberg, general manager of Garuda Trade Co Viet Nam.
"Spanish enterprises are ready to come here and we see good relationship, potential in trade and investment between Spain and Viet Nam," he said.
Garuda’s partners include investors and suppliers, such as Duro Felguera, Indra, Idom and Sol Melia from Spain; Iveco from Italy; UFL and Airis Holding LLC from New Zealand, and Thyssen Krupp, all of which have activities in Viet Nam.
Last year, the Government approved projects to develop and expand other airports in Viet Nam, including Da Nang, Chu Lai and Dong Hoi.
VietNamNet/VNS
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