Hangzhou Xiaoshan Airport to invest USD1.5bn on expansion

China's Hangzhou Xiaoshan Airport announced plans to invest CNY10.4 billion (USD1.5 billion) in Phase II of its expansion project in order to capture more international services (Yicai.com, 06-May-2010). Phase II includes construction of two new terminals and one new runway. Funding will be predominantly through bank loans. Meanwhile, General Manager, Eric Wong, stated the airport has yet to reveal its IPO plans.