Vietnam’s Prime Minister Nguyen Tan Dung has approved a master plan to construct the Long Thanh International Airport in the southern province of Dong Nai, according to a statement posted on Wednesday on the government’s website.

The 5,000-hectare airport, to be built in three phases, will have four runways and an annual capacity of 100 million passengers and five million tons of cargo when complete, the statement said without providing a finish date.

Construction will start in 2015 and the first phase, due to be completed in 2020, will cost $6.74 billion. Preparation and financial arrangements will be made from 2011 to 2014, according to the statement.