Singapore's Changi Airport Group has said that it is planning to develop the new Changi Airport terminal 4 and additional aircraft parking stands at the south Asian city's airport.

The Changi Airport is aiming to build a 160,000sqm terminal that will have a capacity to serve 16 million passengers per annum, which will increase the overall capacity of the airport to 82 million per annum. The terminal will handle full service and low-cost airlines including narrow-body aircrafts. The new terminal will be able to have a quick turn-around of services allowing firms to save time at the airport. The construction work on terminal 4 will begin in 2013 and be complete in 2017.

The company is also aiming to build a new access road and car-park to serve the proposed terminal. A new parking area for 17 narrow-body and nine wide-body aircraft is likely to be built on a 38 hectare site located on the south of terminal 3. The project will also include security systems, ancillary buildings, roads, drainage and additional airfield infrastructure relating to the new facilities at the airport.

Changi Airport Group CEO Lee Seow Hiang said, "Our infrastructure investments over the next four to five years lay the groundwork for us to continue delivering a great Changi Experience and attracting more airlines to fly to Changi Airport."

The company estimates shows that the terminal project will cost US$ 484 million or SG$ 600 million while the project to develop the parking stand, security systems, ancillary buildings, roads, drainage and additional airfield infrastructure would require US$ 549 million or SG$ 680 million.