Cancun International Airport to get a New Terminal, Five.

Grupo Aeroportuario del Sureste (Asur) has announced a major investment that will see the addition of another terminal at the Cancun International Airport.

Approved by authorities, the airport’s master development plan will go ahead with a 24.4 billion peso investment over the next 15 years. Asur, who operates nine airports in southeastern Mexico including Cancun, said nearly half of the resources are destined for 2019-2023.

The airport group says that over the next five years, approximately 6.1 billion peso will go toward upgrades for the Cozumel airport as well as a new Terminal Five for Cancun.

In October, when Terminal Four of the Cancun International Airport was inaugurated, Fernando Chico Pardo, President of Asur, announced another planned expansion for the airport, saying they would begin the construction of Terminal Five at the end of 2018 or the beginning of 2019.

Grupo Aeroportuario del Sureste said that the balance of the money will be invested between 2024 and 2033. They have six airports in northern Colombia and control Aerostar Airport Holdings LLC, which operates the San Juan, Puerto Rico air terminal.