Sydney Airport terminal to get A$ 500 mln overhaul

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SYDNEY, Oct 16 (Reuters) Sydney Airport, majority owned by Macquarie Bank Ltd funds, said on Tuesday it planned to spend A0 million (0 million) upgrading and expanding its international terminal as passenger numbers soar.

Sydney Airport said in a statement it would expand the terminal's departures level, build new shops, install and upgrade baggage handling systems and improve taxiways.

About 10 million international passengers passed through the airport last year. This was expected to rise to more than 20 million by 2024, it said.

Macquarie Bank funds own 81.78 percent of Sydney Airport, Hochtief Airport owns 13.27 percent, and the Ontario Teachers Australia Trust 4.96 percent.

REUTERS DKS RS1136

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