ACV spent more than VND 6,000 billion to upgrade and upgrade its airports

Vietnam Airports Corporation (UPCoM: ACV) will deploy 6 infrastructure upgrading projects this year with total investment of VND 6,050 billion.

According to the ACV document submitted to the General Assembly of Shareholders (scheduled for June 28), the total cost in 2017 of this unit is estimated at VND 9,625 billion, mainly for asset repairs.

Specifically, ACV will implement 6 projects to upgrade airport infrastructure with a total investment of up to VND 6,050 billion. In particular, the project to expand the international terminal (phase 2) and expand the airport parking lot at Tan Son Nhat Airport has the largest investment – VND2,000 billion.

The remaining 5 projects are: T1 Station, Noi Bai International Airport (VND1,200 billion); Investing VIP guesthouse, upgrading APEC airplane airport to APEC airport (VND 150 billion); Expansion of the passenger terminal, aircraft parking area, increasing the capacity to 5 million passengers / year at Phu Quoc International Airport (VND2,000 billion); Expansion of passenger terminal with capacity of 2 million passengers / year at Phu Cat Airport (VND 500 billion); Expansion of the passenger terminal, airport parking Chu Lai Airport (VND 200 billion).

ACV expects to earn a pretax profit of VND3,670 billion in 2017

For the investment project of Long Thanh International Airport, in 2016, ACV has fully compiled the evaluation results of the Council for Assessment of the Aerodrome Passenger Terminal Architecture Long Thanh International and report to the Ministry of Transport. On that basis, ACV has also finalized and will approve the outline and cost estimate to prepare the bidding for consultancy to prepare the feasibility study report for the project so that the project can be commenced on schedule.

This year, ACV expects total revenue of nearly VND13,300 billion (+ 25% y / y), pre-tax profit of VND3,670 billion (+ 7.3% y / y). The dividend for the year 2017 is 9%.

The corporation also expects to deliver 91 million passengers in 2017 (up 13% compared to 2016), with international arrivals estimated at 27 million (an increase of 14% over last year). Total volume of transported goods is estimated at 1,180,000 tons (up 5% compared to 2016).

Notably, at the shareholders’ meeting, ACV will dismiss Mr. Nguyen Nguyen Hung – Chairman of the Board, to retire according to the regime. Mr. Hung’s position was nominated for Mr. Lai Xuan Thanh. Mr. Thanh was born in 1963 and served as Director of the Vietnam Aviation Administration from October 2012 until now.

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