Heathrow unveils £3bn investment plan

Heathrow Airport has announced plans to invest a further £3 billion in improving its infrastructure which will boost the building industry and create new jobs.

The announcement forms part of the airport’s business plan which represents one of the largest private-sector investments in UK infrastructure.

The plans include the completion of Terminal 2 and the early works on extending the building. It will see the development of integrated baggage system and the construction of new taxiways.

Heathrow chief executive Colin Matthews said: “Heathrow is the UK’s only hub airport and a strategically important national infrastructure asset.”

“Heathrow faces stiff competition from other European hubs and we must continue to improve the service we offers passengers and airlines.”

“We have invested billions of pounds in new facilities such as Terminal 5 in recent years and passengers say they have noticed the difference.”

“Our plan for a further £3 billion of private-sector investment will further improve the airport for passengers. The plan represents good value for money for airlines and passengers and comes at no cost to taxpayers.”

Heathrow will open the new Terminal 2 in 2014.  The subsequent move of airlines into the new terminal allows the closure of Terminal 1 in 2016. By 2019 work will already have started on extending Terminal 2.

Since 2003, Heathrow has invested £11 billion in the airport. Investment includes the construction of Terminal 5, a new Terminal 2 due to open in 2014, new baggage tunnels, and the refurbishment of Terminals 3 & 4.