Work starts on Changi Airport's T4 which is slated to open in 2017

Work starts on Changi Airport's T4 which is slated to open in 2017

SINGAPORE - The new facility, which is being built where the Budget Terminal was, will be able to handle up to 16 million passengers a year.

Get the full story from The Straits Times.

Here is the full speech by Mr Lui Tuck Yew, Minister for Transport, at the groundbreaking ceremony for Changi Airport Terminal 4:

Mr Liew Mun Leong, Chairman, Changi Airport Group

Mr Lee Seow Hiang, CEO

Ladies and Gentlemen, I am happy to join you today for the Groundbreaking Ceremony for Terminal 4. T4, together with Project Jewel, the addition of a third runway and a mega-terminal, T5 by mid-2020s are four major and ambitious projects that will strengthen Changi's position as a leading air hub in Asia.

Meeting future demand

Air travel in the Asia Pacific is growing strongly. Airports Council International (ACI) estimates that passenger traffic in the region will more than triple from 1.6 billion passengers in 2011 to 5 billion in 2031, making it the world's largest aviation market.

Driven by the booming travel markets of China and India and by increasing economic links amongst Asian countries, ACI also predicts that the majority of international traffic in the Asia Pacific will be intra-regional. For Changi, passenger traffic is forecast to grow by around 5 per cent annually for the rest of the decade.

In the first nine months of this year, the growth in passenger traffic at Changi was already 5.6 per cent.

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