The expansion plan for the Guangzhou Baiyun International Airport has been approved by the National Development and Reform Commission (NDRC), according to a statement issued by the Civil Aviation Administration of China on its website.
Guangzhou Baiyun will construct a third runway and another terminal, which will involve a total investment of RMB 14.036 billion, but the company did not reveal the exact date of construction.
Earlier in May, Guangzhou Baiyun International Airport Co Ltd had issued RMB 1 billion worth of short-term bills. The proceeds were used to supplement capital and the financing cost.
The airport targets to handle 40 million people by 2010. Last year, Guangzhou Baiyun handled 30,958,467 people, making it the second busiest airport in mainland China in terms of passenger traffic.
Guangzhou Baiyun International Airport is one of the three largest air hubs in China and the main hub of China Southern Airlines.