The new terminal will serve as a replacement for the outmoded Terminal A that launched in 1973.
New Jersey Governor Phil Murphy said: “Today’s unveiling of Terminal A marks the culmination of the largest infrastructure project I have had the honour of overseeing during my administration, as well as the realisation of our vision for a state founded upon sound infrastructure and fuelled by economic opportunity.
“Just as importantly, while Terminal A’s transformation solidifies Newark Liberty’s status as a regional and international transportation hub, it will also spur billions of dollars in economic activity and generate the good-paying jobs upon which our communities depend.”
Equipped with digital technology, the new terminal will feature 33 gates of which 21 gates will open later this month, while the rest will become operational next year.
Spanning nearly one million square feet, it has a modernised common-use check-in area, security and baggage claim areas and a capacity to house larger aircraft.
The terminal has been designed to accommodate around 13.6 million passengers annually.
Besides, it is anticipated to support over 2,500 jobs while generating over $4.6bn in regional economic activity.
Apart from the new terminal, the Newark Liberty redevelopment programme also involves constructing a $400m integrated public parking garage with new centralised rental car facilities, along with south airfield paving for $175m.
Port Authority chairman Kevin O’Toole said: “Newark Liberty serves a vital role in the region’s economy, and we are committed to enhancing the passenger experience by transforming the airport into one of the premier airports in the world.
“This is New Jersey’s largest design-build project, creating opportunities within the local community that result in thousands of jobs to deliver a world-class facility.”