Airports of Thailand (AOT) said on Monday it planned to invest THB77.9 billion baht (USD$2.3 billion) to develop the second phase of Bangkok's Suvarnabhumi Airport in 2009-2014.
The investment, including tax and interest charges, would help increase the capacity of the airport to meet rising air traffic volume and maintain Thailand as a southeast Asian hub, the airport operator said in a statement.
The plan is subject to approval from, among others, the Transport Ministry and the cabinet.
Suvarnabhumi Airport, which opened in September 2006, is the largest airport in southeast Asia with an annual capacity of 45 million passengers, and Thailand hopes it will be a serious regional rival to Hong Kong and Singapore.
AOT, 70 percent owned by the Finance Ministry, operates six airports in Thailand.
