Singapore will pour an additional US$3.7 billion into upgrades at Changi airport, including a long-awaited fifth terminal, as the nation seeks to maintain its position as a top global aviation hub, its leader said.
Prime Minister Lawrence Wong announced the fresh infusion while presenting the city-state’s 2025 budget, which also included a wide range of cash incentives for locals ahead of elections later this year.
Serving in a dual role as finance minister, Wong said part of the funds will be used to construct a fifth terminal at the airport, which saw around 67.7 million passengers pass through its gates last year.
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“When completed, Terminal 5 will expand our airport’s capacity by more than 50 percent and will ensure that Singapore remains a critical gateway for global travel and trade,” he said.
The fresh top-up of S$5 billion (US$3.7 billion) to the Changi Airport Development Fund will “ensure sufficient resources to develop our air hub”, added Wong.
Terminal 5 was first proposed in 2013 and construction is expected to go ahead later this year, following pandemic delays, officials said.
The new terminal is expected to be operational in the mid-2030s.
It is one of the largest transit hubs in Asia with more than 100 airlines operating from the airport.
The government put S$3 billion in its airport development fund in 2015 when it was set up, adding S$1 billion in 2016, and S$2 billion in 2023, according to local media.
Source: AFP
