The central government has approved the construction plan for a new international airport in Beijing that will enable the capital to handle 72 million more passengers each year.
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The project will involve investment of almost 80 billion yuan ($13.1 billion) and take about five years to complete, the National Development and Reform Commission said.
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It will be located 46 kilometers south of Tian'anmen Square in Daxing district, and is expected to become operational in 2018.
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The airport is designed to handle 2 million metric tons of cargo and 620,000 passenger flights on an annual basis, the commission said. It will include 150 parking aprons for passenger jets, 24 parking aprons for cargo aircraft, 14 maintenance areas as well as a terminal building with a floor area of 700,000 square meters.
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State-owned Capital Airports Holding, the Northern China Regional Air Traffic Management Bureau under the Civil Aviation Administration of China and the China National Aviation Fuel Group will undertake the construction.
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The civil aviation administration will provide 18 billion yuan to fund the project, while Capital Airports Holding will invest 6 billion yuan. The rest of the investment will come from bank loans and private capital, according to the commission.
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The new airport will serve the rising demand for air transport in Beijing, boost the balanced development of the capital city's northern and southern areas, and strengthen China's competitiveness in the civil aviation sector, it added.
The central government has approved the construction plan for a new international airport in Beijing that will enable the capital to handle 72 million more passengers each year.
