TAIPEI (Taiwan News) — The Taoyuan Airport Corporation Ltd. said on Wednesday (Aug. 14) that its new terminal will open in the second half of 2027.

Company General Manager Fan Hsiao-lun (范孝倫) held a press conference at the construction site for Taiwan Taoyuan International Airport’s third terminal, and told reporters of the planned completion date, per CNA. Fan said that the third terminal is around 40% complete.

Fan said that the budget for the terminal will increase from NT$95.6 billion (US$2.57 billion) to NT$128.4 billion. The airport company said that the spend has been revised upwards due to inflation, and the sum has been submitted to the National Development Council for review.

Deputy general manager of the airport company Sun Hung-pin (孫宏彬) said that more than 1,500 people are at work on the terminal every day, and this number is expected to increase to 4,000 per day by 2024.

The third terminal is being constructed with 20 meter tall pillars that are inspired by the branches of a banyan tree. Around a third of the 16 pillars have been erected, and the remaining ones are expected to be put in place by the end of this year.

In addition to building the third terminal, Fan said reviews of the existing terminals, and whether or not to construct a fourth terminal will be carried out. The review will include whether or not to carry out renovations on the existing terminals, Fan said.