Chicago Mayor Rahm Emanuel announced (28-Feb-2018) a USD8.5 billion, eight year plan between City of Chicago and its airline partners to expand Chicago O'Hare International Airport. Under the plan terminal 5 will undergo an upgrade and expansion, terminal 2 will be demolished and reconstructed to include a new international arrivals facility and renovations will be made to terminals 1 and 3. Other highlights include:
- Construction of a new international terminal, called the 'O'Hare Global Terminal';
- Security screening upgrades;
- Three new baggage handling systems;
- Installation of new self service technologies.
City of Chicago said it is seeking authority to issue up to USD4 billion in bonds to support the project, funded by O'Hare Aviation revenues. The plans will be pursued by the City and the airlines as part of a new use and lease agreement, designed to replace the existing 35 year agreement that expires in May-2018. Construction on the project is slated to commence in 2019. [more - original PR]