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Heathrow Airport Expansion to Cost £49 Billion

Israa Farhan Heathrow Airport, Europe's busiest hub by passenger numbers, has announced an ambitious £49 billion expansion and modernization plan, which includes the construction of a long-debated third runway. The entire project will be funded by private sector investment. The airport's Chief Executive Officer, Thomas Woldbye, stated on Friday that the expansion is now more vital than ever, as Heathrow is operating at full capacity. The upgrade aims to significantly enhance the UK capital's global competitiveness in trade and transport. Despite years of legal battles and continued resistance from environmental campaigners, residents, and even London Mayor Sadiq Khan alongside members of the ruling Labor Party, the British government approved the new runway plan in January. According to the announcement, the expansion is set to double Heathrow's annual passenger capacity from 84 million to 150 million. The construction and operational launch of the third runway is scheduled to take place over the next decade. Of the total investment, £21 billion will be allocated directly to the new runway, while the remaining funds will be used for broader airport upgrades and modernization, a process expected to continue over the coming decades. The project has faced legal and political hurdles for years. In late 2020, the UK Supreme Court gave the green light for the third runway after a protracted legal dispute. However, the pandemic significantly delayed progress. The Heathrow Airport Holdings Group, overseeing the project, is majority-owned by international investors. French infrastructure firm Ardian holds the largest share at 32.6%, followed by the Qatar Investment Authority at 20%, and Saudi Arabia's Public Investment Fund with a 15% stake. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results