Terminal C at Dallas Fort Worth International Airport is set to undergo a massive face-lift while the airport constructs a sixth terminal, Terminal F, to accommodate increasing passenger traffic.

Terminal F will incorporate the latest airport technologies to better accommodate the airport’s passengers, DFW Airport and American Airlines said in a statement Monday.

DFW Airport served 69 million customers last year and is expected to add more passengers and air service over the next two years than it has served in the past two decades combined, the companies said.

DFW announced 28 new destinations last year alone. And by June of this year, American Airlines expects to have more than 900 flights operating out of DFW daily.

DFW Airport and American confirmed the airport is investing between $3B and $3.5B to improve Terminal C and to construct Terminal F. The investment will be financed through bonds and airline rates and charges over the life cycle of the bonds.

Terminal F is expected to provide enough space to phase in another 24 gates when it opens in 2025.

“Today’s announcement sets the stage for DFW Airport’s next 50 years,” DFW Airport CEO Sean Donohue said. “The new Terminal F and the expansion that could follow will provide the region with the growth it needs to compete with international business centers. The airport is growing faster than ever, and it needs to keep pace with the Dallas-Fort Worth economy to provide jobs and connections for businesses and families.”

Terminal C opened in 1974. DFW and American plan to renovate the dated terminal to make it equal in quality to Terminals A, B and E, which recently underwent renovations.

American Airlines Executive Vice President Elise Eberwein and Vice President Timothy Skipworth are speaking at Bisnow's Dallas State of the Market June 5.