No its not going to be an entirely NEW
airport, rather a new terminal plus a new run way on the existing site of the current Beijing Capital Airport.
The claim "biggest" is something new, however. The Chinese media never mentioned this as of now.
Some background of the new terminal/runway:
1) the new terminal (T3) is supposed to be super efficient: a passenger will only need 4 minutes after checking-in getting to the most remote gate in terminal.
2) Location of T3
will be 1,525m east of current eastern runway, occupying 350,000 sq m.
3) when the new run way and T3
open to public, PEK
will be able to handle 60 million pax a year, 2-3m tons of cargo; 500,000-600,000 take-offs and landings per year
4) the new run way will be 3,800m in length, 60m in width;
5) new terminal T3
will have 94 gates, capable of handling A380.
6) still being planned is the transit connection between T3
and T1, T2
7) everything should be completed by the end of 2007.
8) construction of the terminal has started with 7762 foundation columns poured complete as of Sept 27, 2004.
So when the new terminal is in use, it should put PEK
in top 5 worlds busiest airport in terms of pax volume.