Qingdao Airport Group signs syndicate loan agreement for new Qingdao Airport

Qingdao Airport Group signed (10-Apr-2016) the New Qingdao Airport project with a syndicate of 13 local Chinese banks on 08-Apr-2016. The New Qingdao Airport project is expected to involve total investment of CNY41,566 million (USD6.9 billion), including CNY33,272 million (USD5.5 billion) in airport project, of which CNY19,900 million (USD3.3 billion) will be through the syndicate. The new airport will be constructed as a category 4F standard and positioned as a gateway to Japan and South Korea as well as a regional hub airport. The airport's proposed 478,000 sqm terminal is expected to have capacity for 35 million passengers, 500,000 tonnes of cargo and 298,000 aircraft movements p/a. In the long-term to 2045, the airport is expected to have cover a land area of 30.7 sq km, construct an additional two near runway while its terminal area will reach 700,000 sqm. The airport is also expected to have capacity for 55 million passengers, 1.0 million tonnes of cargo and 452000 movements p/a by then. [more - original PR - Chinese]