Gelex Infrastructure, a key subsidiary of Gelex Group, is set to make a significant investment in the Gia Binh international airport project. The company's Board of Directors approved a resolution on 13/2 to contribute capital equivalent to 20% of the project company's charter capital. This strategic move aligns with Gelex Group's vision to collaboratively build Vietnam's future by investing in critical national transport infrastructure, thereby driving socio-economic development.
On the same day, Gelex Infrastructure's Board of Directors also approved a plan to reallocate nearly 2,900 billion VND from the proceeds of an auction of 100 million shares held in late 2025. Of this amount, the company will allocate 488 billion VND to the company responsible for the Gia Binh airport project during Q1/2026. This represents a change from the previous plan, which earmarked the 488 billion VND for repaying the principal loan from Cathay United Bank - Ho Chi Minh City branch.
The Gia Binh international airport project, with a total capital exceeding 196,000 billion VND, received approval for its investment policy from the National Assembly in December 2025. Masterise Group has been appointed as the main investor for this mega-project. Phase one of the project requires over 141,230 billion VND, while phase two needs more than 55,100 billion VND. The airport is considered strategically important for alleviating pressure on Noi Bai airport and opening new development opportunities for the eastern and northeastern regions of the capital.
The airport's projected capacity is 30 million passengers and 1,6 million tons of cargo annually by 2030. This capacity could further increase to 50 million passengers and 2,5 million tons of cargo by 2050.
Masterise has established Masterise Airport Limited Company with a charter capital of 29,300 billion VND. Vu Hoang Long serves as the legal representative for this company. Long previously held the position of General Director at Long Son Petroleum Industrial Park Investment Joint Stock Company (PXL), which is also a Gelex subsidiary. He resigned from PXL on 3/2/2026 for personal reasons. His prior experience includes leadership roles at major aviation enterprises such as Sasco and Cam Ranh International Terminal Joint Stock Company.
Gelex Infrastructure manages capital across various sectors, including real estate, construction materials, and utility infrastructure like energy and clean water. Last year, the company reported revenue exceeding 14,500 billion VND and an after-tax profit of 1,387 billion VND, marking increases of 13% and 26% respectively compared to the previous year. Total assets at year-end surpassed 46,800 billion VND, a significant rise from 35,500 billion VND at the beginning of the year. In early February, the company listed 890 million shares on the Ho Chi Minh City stock exchange under the ticker GEL.
Anh Tu
