Amsterdam’s Schiphol airport is to undergo major expansion, including the development of a new terminal and pier, the airport authority said on Wednesday.

Schiphol is jointly owned by the Dutch state and Amsterdam city council. The aim of the expansion is to ensure Schiphol maintains its competitive position, the airport said in a statement.

The new terminal will be completed in 2023 and accommodate some 14 million passengers a year. The new pier will come into service in 2019 and will be able to take both narrow and wide-bodied planes.

The expansion to the south of the current main building fits in with agreements over the airport’s long-term growth, the airport said.

‘The number of passengers and aircraft movements increases every year,’ the airport authority said in a statement. ‘Schiphol needs more room to accommodate and facilitate this growth.’

Schiphol also plans to invest in the station area, the bus station and the Schiphol Plaza shopping centre.