The Greater Toronto Airports Authority (GTAA) has announced a multibillion-dollar plan aimed at modernizing and updating Toronto Pearson International Airport. 

On Friday, Toronto's airport authority said it had initiated discussions with design and construction companies on Pearson LIFT (Long term Investment in Facilities and Terminals), regarding the program's procurement, planning, and vision. 

The capital plan spans more than a decade and will invest billions of dollars into Pearson's facility through multiple construction programs aimed at preparing the travel hub for challenges and service demands. 

"This is the very beginning of what will be a decade-long investment in our facilities and our terminals across the airport," said Deborah Flint, president and CEO of the GTAA.

Earlier today, Toronto Pearson executives launched the first phase of a procurement process for LIFT at an industry forum for 700 construction industry stakeholders.

LIFT will focus on modernizing airport assets, including high-speed taxi lanes to improve airfield performance,… pic.twitter.com/KTUVVYMgGo

— Toronto Pearson (@TorontoPearson) April 12, 2024

"After many, many years, where we have had tired and aged assets across the airport facility, we'll be systematically investing in those, investing in them to bring them up to not just a state of great repair, but positioning them for the future."

According to the GTAA, Pearson has been meeting passenger needs by "deploying extraordinary resources to many of its aged assets and facilities," which it says is "not a sustainable solution." 

Passenger traffic at the travel hub is expected to grow to approximately 65 million annually by the early 2030s, well above the 45 million passengers it saw in 2023. 

The first program of LIFT is set to focus on modernizing airport assets, including high-speed taxi lanes to improve airfield performance, modernized airfield electric lighting and control systems, interim terminal facilities, and investments in power generation to advance towards net-zero targets.