Indonesian airport operator Angkasa Pura II (AP II) is planning to invest nearly IDR2t ($150m) in the construction of a new runway at Soekarno-Hatta International Airport.

The operator plans to state funds to finance purchase of land in the North Tangerang region for the expansion of the airport.

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The proposed third runway, which is expected to be completed by the end 2017, is intended to accommodate larger aircraft as well as decongest aircraft movements, reported atwonline.com.

Currently, the airport has two parallel paved runways linked to each other by two cross taxiways.

The airport has further expansion plans in the pipeline including the construction of terminal 4 by 2021 and upgrading terminals 1 and 2.

Construction of terminal 3 is currently underway and is expected to be completed by 2020.

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Against the airport’s capacity to handle 22 million passengers annually, Soekarno-Hatta currently handles more than 60 million passengers.

Megahubs Index 2015 ranked Soekarno-Hatta Airport (CGK) as the 17th most-connected airport in the world, the largest megahub in Asia.

According to Airports Council International (ACI) the airport was the 10th busiest airport in the world in terms of passenger traffic, world airport traffic report in 2013.