UK’s Manchester Airport will invest £1bn in the modernisation of its facilities over the next ten years.
Located in north-west England, the airport has already been expanding its long-haul routes to provide passengers with an alternative to the Heathrow airport in the south.
Investments would be made in nearly 60 projects including the expansion of Terminal 2, improvements to Terminal 3 and preclearance facilities for passengers travelling to the US. The airport is likely to build new food and retail outlets.
The announcement is in line with the efforts of British Finance Minister George Osborne to improve road and rail connectivity between northern English cities including Manchester, Liverpool and Leeds to equip them to compete with London, reported Reuters.
BBC quoted Manchester Airport Group (MAG) CEO Charlie Cornish as saying: "We’re setting out how the airport will contribute to the development of a ‘northern powerhouse’ and demonstrating the dynamic, ‘can-do’ spirit that sums up the region.
"The transformation programme will ensure the airport plays its full part in driving economic growth and develops as a key part of the UK transport infrastructure."
Claimed to be the largest airport outside the London region, Manchester reported passenger growth of 6% in 2014, and is expected to grow by another 5% in 2015-2016.
The airport recorded 22 million passenger movements last year, flying to 210 international destinations. It currently employs 20,000 people and is expected to double that to 40,000 after expansion.
The third largest airport in the UK was judged the best in the country at the annual Globe Travel Awards 2015 in January.
The airport is managed by Manchester Airport Group, which also owns London Stansted, East Midlands and Bournemouth Airports.
Image: UK’s Manchester Airport reported passenger growth of 6% in the last financial year. Photo: courtesy of Arpingstone.