The 34,000m2 facility, designed by architects Pascall and Watwson covering three levels, will help the airport deal with increasing growth projected for the next decade.
It will be situated next to the current terminal and will include larger immigration and baggage reclaim areas, new retail facilities, improved access for all onward transport options and a public forecourt.
The existing terminal will be reconfigured so that it is dedicated to departing passengers, providing more space at check-in, security and in the departure lounge.
The first phase of works will begin later this summer to create some additional capacity in the short-term, including extra check-in desks, additional seating and restaurants in the departure lounge.
It is expected to take up to three years to complete.