Beijing Capital International Airport Group announced that it will spend RMB 1 billion (US$120.8 million) on expanding existing terminals at Beijing's international airport this year. The upgrade will precede a US$2.3 billion expansion scheduled for completion by 2008, in time for when the city will host the Olympics. This year's upgrade will focus on returning one of the airport's terminals to service. Beijing's airport is currently operating only one terminal, which was designed to handle 26 million passengers, but saw 27 million passengers in 2002.
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