$385bn construction projects in planned around the world
Around $385 billion worth of airport construction projects are in progress or planned around the world, according to the CAPA Airport Construction and Capex Database.
Asia leads with $115 billion. This includes 69 regional airports to be constructed in China by 2015. However, India and Indonesia are falling rapidly behind in new airport infrastructure, CAPA says.
In the Middle East, Saudi Arabia and Oman have embarked on major expansions. Istanbul’s new airport starts to take shape in 2014, due to be completed by 2019. In Brazil, the race continues to have enough capacity in place for the World Cup in June and July.
The database lists airport infrastructure projects worth $1 million or more. It includes, for example, comparatively minor car parking projects at airports in Europe and the USA. It also includes massive projects of $20 billion or more.
In Europe the picture is not so rosy. The tale of Willy Brandt Berlin Brandenburg Airport (BBI) in Germany continues. There is no fixed date on when it will open. It will not be 2014.
At Frankfurt the story is clearer, with total investment on a variety of projects up to 2015, including the CargoCity South expansion, a fourth runway and third terminal totalling $10 billion. Meanwhile, Munich Airport is spending $845 million on a satellite extension of Terminal 2.
“There is a surprising amount of activity in Scandinavia, including $1.37 billion expenditure on Finland’s airports, most of it on Helsinki-Vantaa, almost $700 million at Bergen (Norway); and $6.4 billion at Oslo Airport between 2014 and 2023, a large slice of it on the second terminal there,” the database states.
“Meanwhile, the longest project period known to us is the capacity enhancement of Rome’s Fiumicino Airport in Italy ($12 billion in total), the final phase of which is scheduled to be completed in 2044.”
London’s Heathrow and Gatwick airports are spending large as they compete for additional runway capacity. Investments already being made at Heathrow reach as much as $13 billion, including speculative projects like a third runway and Terminal 6. Heathrow’s new Terminal 2, which will eventually serve 20 million passengers a year, will open in phases from June 2014. At Gatwick, $1.5 billion is being invested in upgrades rather than new terminals, including a pier stand for the A380.
[pictured: Helsinki-Vantaa; courtesy Finavia]