The new airport will be able to handle 40 million passengers a year.
The two feasibility studies cover investment feasibility, economic benefits, financial benefits and environmental impact, the AOT CEO said. Kirati Kitmanawat he said Wednesday.
He said the development of Andaman International Airport in Phang Nga province would cost about 75 billion baht, with potential investment by airlines and private investors.
AOT has allocated 6,500 rai (1,040 hectares) of land in Kok Kloi district for the project. About 40% of the site is already owned by the government, which will save about 2.5 billion baht in expropriation costs.
AOT will lease the remaining site from the Ministry of Finance, which will be responsible for acquiring the land in preparation for construction to begin in 2027, Kirati added.
Construction will take about four and a half years, and the airport is scheduled to open in 2032.