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$5b to be added to fund for airport expansion projects, including T5
The Straits Times
|February 19, 2025
Some $5 billion will be added to a fund that was set up to support the expansion of Changi Airport, including the construction of Terminal 5, Prime Minister and Finance Minister Lawrence Wong said in his Budget speech in Parliament on Feb 18.
Adding to the Changi Airport Development Fund's (CADF) kitty will "ensure sufficient resources to develop our air hub" and secure Singapore's standing as "a critical gateway for travel and trade", PM Wong said.
The Government, with President Tharman Shanmugaratnam's concurrence, will also provide a guarantee to operator Changi Airport Group. "This will help lower the cost of borrowings needed to develop Terminal 5 and supporting infrastructure in Changi East," PM Wong said.
Terminal 5 (T5) will be located within the new 1,080ha Changi East development, which is Changi Airport's largest expansion project to date that will be three times the size of Marina Bay.
"We will break ground for Changi Airport Terminal 5 in the coming months," PM Wong said, adding that, when completed, T5 will expand the airport's capacity by more than 50 per cent.
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