Second Beijing Airport site selection completed, airport to be completed by 2017/18

China's new Beijing Airport site selection has been completed following the approval of the project by the State Council on 28-Nov-2012, according to local reports from CB.com.cn, Carnoc.com and Qianlong. The 28.7sqkm new airport will be constructed in Daxing district with a total investment of CNY79 billion (USD112.3 billion) and is scheduled for completion between 2017 and 2018. Phase one of the airport project, which will include four runways and 220 parking bays, will be constructed with capacity for 72 million passengers, two million tons of cargo and 620,000 aircraft movements p/a by 2025. A 112,000sqm cargo terminal will also be included. The proposed airport will have a total of nine runways once completed. The airport will be managed by Capital Airports Holding Company while the ownership will be decided in accordance with the investment ratio, which is yet to be confirmed.