Swedish airport group Swedavia has announced plans to invest SEK13bn (£1.2bn) in improvements for Stockholm Arlanda Airport.
The 30-year plan has been split into two phases and aims to increase the capacity and efficiency of the airport.
The first phase, which will extend across a period of 10 years, covers the development of Terminal 5 including a new pier designed to handle larger aircraft for long haul destinations, expanded security areas and additional commercial space.
Swedavia estimates an initial investment of SEK7 billion (£660m) will be made for the first stage of development, which will also include additional parking spaces close to the terminal and a new environmentally sustainable operations area.
The inauguration of the airport's new Terminal 2 in 2013 was the first step towards long-term development at Stockholm Arlanda.
The capital improvement programme follows sharp increases in passenger numbers, with over a million more travellers recorded at Stockholm Arlanda in the past year alone. Today close to 21 million passengers travel through the airport and by 2040 the number is expected to rise to nearly 35 million, an increase of just over 2% per year.
“Stockholm Arlanda Airport plays a key role in enabling Sweden to realise opportunities for national and international exchanges. With this investment, we are enhancing not just the airport’s competitiveness but also the potential for continued growth in Sweden,” said CEO of Swedavia, Torborg Chetkovich.
The area near the airport will also undergo changes with new and modern office buildings constructed nearby to create a a dynamic cityscape. The plan follows the inauguration of Clarion Hotel Arlanda Airport in December 2012. The next step will be the establishment of Sky City Office One, a 15,000m² office building located next to the airport.
“Developing long-term sustainable solutions will be integral to the future Stockholm Arlanda Airport. This will enhance our attractiveness and is also important since the area around the airport will employ an estimated 50,000 people by the end of the period,” said Kjell-Ake Westin, airport director, Stockholm Arlanda.