The Beijing Capital International Airport plans to announce its financing plans for its third phase expansion project by the end of the year. The airport company is waiting for regulatory approval on how to divide the sum of US$1.8 billion with parent company Capital Airport Holding. The expansion will increase annual passenger capacity by 31 million in preparation for the Beijing Olympics in 2008. Construction on the expansion project began early this year. The airport's Terminal I, which has been under renovation, will go back into service in September, capable of handling 10 million passengers per year. Terminal II, which was designed for 2.6 million passengers, saw 16.6 million pass through it in the first half of the year.