Airport plans to submit proposals for a third runway to the government by summer.The investment programme includes expansions to Terminals 2 and 5 to increase capacity and improve passenger experience, alongside a commitment to prioritising UK-made steel in the developmentSource: ShutterstockHeathrowHeathrow Airport has outlined plans for a multi-billion-pound privately funded investment programme, which seeks to upgrade infrastructure, increase capacity, and advance proposals for a third runway. The phased programme follows the UK governments recent support for expansion and will begin this year.In a speech at British Steel Scunthorpe, Heathrow CEO Thomas Woldbye stated: This privately funded programme will upgrade existing infrastructure while laying the groundwork for a third runway, boosting UK investment and economic growth, with tangible benefits felt this year. Heathrow is proud to answer the Chancellors call to get Britain building.Woldbye also said he was committed to completing the third runway by the end of the next parliament. He added:This is vital investment and will ensure Heathrow remains globally competitive and a jewel in the countrys crown the UKs Gateway to Growth.The investment plans include expansions to Terminal 2 and reconfigurations of Terminal 5, aiming to optimise passenger capacity. Heathrow has also announced improvements to airfield layouts to enhance punctuality and resilience, along with upgrades to public transport connections to encourage sustainable travel. Sustainability measures are intended to align with the airports environmental commitments, with new infrastructure designed to incorporate more sustainable power sources.Woldbye confirmed that Heathrow will submit its third runway proposals to the government this summer, stating: A third runway is critical for the countrys future economic success, and I confirm we will submit our plans for a third runway to Government this summer. He added that the project can only go ahead if we meet the rules on noise, air quality and carbon that the Government sets out in the Airports National Policy Statement.Source:Heathrow Airports LimitedThomas Woldbye (second from right) and Sarah Jones (third from left) in Scunthorpe today. The expansion programme has also been linked to the UK steel industry, with Heathrow signing the UK Steel Charter, committing to prioritising British steel in its developmentThe expansion programme has also been linked to the UK steel industry, with Heathrow signing the UK Steel Charter, committing to prioritising British steel in its development. Industry minister Sarah Jones welcomed the investment, saying: By signing the Steel Charter, Heathrow will give a huge boost to steelmaking communities across the UK and help us kickstart economic growth.According to a Frontier Economics study, a third runway could increase UK GDP by 0.43% by 2050, with 60% of the economic benefits projected to be outside London and the South East. Heathrow will now engage with key stakeholders, including airlines and local communities, as it refines its proposals.Significant opposition has been raised to a third runway, with concerns focused on sustainability and doubts over whether it will deliver the promised economic benefits. London Mayor Sadiq Khan said last month: I remain opposed to a new runway at Heathrow Airport because of the severe impact it will have on noise, air pollution and meeting our climate change targets.Ryanair CEO Michael OLeary has also questioned the third runway on commercial grounds, stating recently: Please understand that this wont come until 2040 or 2050 at the earliest. This wont deliver growth, not this year, not in the life of the current government and not even in the life of the next government.