Citing rapid growth that has reached double digits in recent years, Hong Kong officials announced Tuesday that the airport will break ground on a large expansion project in the third quarter of this year according to The Wall Street Journal.
The project will be constructed in multiple phases over the course of the next four years.
According to the article, the first phase will involve a new terminal concourse with 20 aircraft parking bays and provide a capacity increase of 10 million passengers per year.
The following phase, details of which which have not been released yet, will add an additional capacity of 10 million passengers per year and potentially a third runway.
Opened less than 13 years ago, Hong Kong International Airport is one of the top 15 busiest airports in the world in terms of passenger traffic, serving just over 50 million passengers per year. It also ranks second in the world in total cargo traffic, trailing only Memphis International Airport, home to FedEx.
The expansion announcement comes less than a week after Beijing officials revealed that the city is planning on building a brand new airport to help alleviate traffic at Beijing Capital International Airport, the world’s second busiest airport. That airport is expected to be finished by 2015 and will be able to handle 40 million passengers when it opens.