The Ethiopian government is planning to sink $250 million in expanding Bole International Airport in Addis Ababa, Nazret.com quoted The Reporter saying.

Tewodros Dawit, the chief executive of the Ethiopian Airports Enterprise, told The Reporter that the expansion program was in line with the Ethiopian Airlines Vision 2025 development strategy, adding that the enterprise is undertaking various airport development projects.

The expansion will include the construction of a new passenger terminal, which will house the boarding areas, lounges, recreation centers, shopping malls, offices and other facilities.

Tewodros said a $250 million loan has been secured from the government of China. As part of the loan a Chinese construction firm, China Communications Construction Company (CCCC), will be awarded the Bole expansion contractor.

It took CCCC over a year-and-half to broker the loan deal between the Ethiopian Airports Enterprise and the Chinese Export-Import (EXIM) Bank.

The design work of the expansion project is being undertaken by a Singapore company, CPG.

According to Tewodros the final design of the expansion work will be completed after two months. Work on the project is expected to commence next March, while the expansion work is expected to be finalized within three years.

Currently Bole International Airport  two terminals, which are expected to accommodate 5 million passengers a year, is handling over 6.5 million passengers. Once the planned expansion work is finalized, the airport will handle up to 25 million passengers a year.

“We expect the passenger traffic to reach 22 million by 2025,” Tewodros said.