In June 2008, the Cabinet Committee on Economic Affairs approved Rs19.42bn ($351m), with the budget now revised as per competitive bidding rules and to review the scope of certain works involved in project.
Work on the Integrated Passenger Terminal Building commenced on 29 December 2008 and was completed in August 2012, excluding the Zone-I of the terminal, which is expected to be finished by December 2012.
The ongoing project includes the construction of an integrated terminal building to deliver international and domestic services, and handle 16 million more passengers per year.
The project also involves the extension of the airport's second runway, the addition of six new aerobridges and parking / aprons for wide-bodied aircraft, construction of a large integrated cargo complex, ten aircraft stands for domestic apron and two aircraft stands for cargo apron.
The project also includes the creation of a new maintenance hangar, facilitation building / elevated corridor to elevated railway station, implementation of modernised communication and navigation systems (CNS) and the construction of two new car parks.
Following its expected opening in January 2013, the airport is predicting a 10% rise in international passenger traffic and a 15% rise in domestic passenger traffic after 2012-13.
The international terminal, which has a capacity to handle 4 million passengers, is expected to reach full capacity by 2023-24, while the domestic terminal with a capacity of 16 million is set to reach to its capacity in 2015-16.
Image: The revamped airport is expected to handle about 20 million passengers per year over the existing capacity five million.