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Heathrow announces £3bn investment plan

Heathrow airport has announced a £3bn investment plan to improve infrastructure, adding to the £11bn invested since 2003.

The plans include completion of Terminal 2 and early works on extending the building, as well as construction of new taxiways and stands to allow the airport to accommodate more modern fleets.

£660m is to be spent on capital in 2014/15, with £697m the next year and £591m the year after that.

In 2017/18, £591m is to be spent, followed by £464m in 2018/19.

Transport links will also be improved, while Heathrow is part-funding the Crossrail project which links the facility to Central London.

An integrated baggage system will also be installed, while more self-service check-in kiosks will be built and trials to continue for improved noise insulation for local homes.

Heathrow accounts for 78 per cent of all long-haul flights from the UK. Recent investments include construction of Terminal 5, new baggage tunnels, and refurbishment of Terminals 3 and 4.

Heathrow chief executive Colin Matthews said: “Heathrow is the UK’s only hub airport and a strategically important national infrastructure asset.”

“Heathrow faces stiff competition from other European hubs and we must continue to improve the service we offers passengers and airlines.”

“We have invested billions of pounds in new facilities such as Terminal 5 in recent years and passengers say they have noticed the difference.”

“Our plan for a further £3 billion of private-sector investment will further improve the airport for passengers. The plan represents good value for money for airlines and passengers and comes at no cost to taxpayers.”

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