Vancouver International Airport, along with B.C.’s premier, officially launched a $9-billion expansion plan on Thursday that officials say will bring the infrastructure needed to support up to 36 million travellers each year by 2020.
“We are on an ambitious journey to build the airport of the future,” said airport CEO Craig Richmond.
Over the next 20 years, @yvrairport will invest $9.1 billion to continue to expand our airport. This is great news for job creation in our province! #bcpoli #RichmondBC pic.twitter.com/rAOJmTjBY3
— BC Chamber (@bcchamberofcom) June 14, 2018
The airport, which operates with a not-for-profit-business model, receives no government funding. Thursday’s investment has been generated through the airport’s own profits, according to Richmond.
In 2017, the airport saw a record 24.2 million passengers land in Vancouver.
The funding will cover more than 75 projects and upgrades during a 20-year span, including expanding runways by 300 metres, parking and terminal expansions.
One of the biggest projects includes creating one of the largest GeoExchange systems in Canada, Richmond said, which involves using groundwater for heating and cooling.
The construction, Richmond said, is expected to create 2,500 full-time constuction jobs by the end of the year.
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