The government of Japan has expressed its intention to approve selling the Fukuoka airport operation rights to a private operator

According to sources, the government of Japan plans to use funds from the transaction to develop a a second runway. The project involves the construction of a 2.5 km runway west of the current 2.8 km runway and establish such facilities as a landing area and a guide path.

The total project investment is estimated at ¥180 billion (US$1.52 billion). According to the same sources, ¥120 billion (US$1.01 billion) of them are expected to be raised by selling the operation rights of the airport.

Local governments have also expressed their interest in the approval of the airport privatization.

Fukuoka Airport, which reached 19.29 million passenger in fiscal 2013, is the nation's third-largest number of passengers. The government aims to ease congestion at the airport and increase the number of visitors from overseas.

We have recently reported that Japan's New Kansai International Airport had shortlisted twenty firms for a concession to operate the airport for 44 years. Kansai airport is a regional hub and the country's fifth-largest airport.