London's Heathrow Airport, one of the world's busiest hubs, will submit its proposal for a third runway to the British government by summer, its chief executive Thomas Woldbye will say in a speech on Wednesday.

Chief executive Thomas Woldbye will announce funding for upgrades and expansion in a speech on Wednesday. | ITV National News

The Government has thrown its weight behind expansion at Heathrow but critics to the possible £63billion project range from airlines and environmentalists to high profile figures within Labour

Heathrow boss Thomas Woldbye is expected to lay the groundwork for what is the largest private investment programme in Heathrow's history.

In a statement on Monday, the UK’s largest airport said it was in the process of finalising proposals with stakeholders that would bring the long-delayed, highly controversial project back to life

The line, called the Heathrow Southern Railway (HSR), is a privately financed proposal to link Surrey towns to one of the world's busiest airports. If built, it would operate between Heathrow and London Waterloo via Staines.

Heathrow Airport will submit proposals for a third runway 'by the summer' after welcoming Chancellor Rachel Reeves' 'recent show of support' for the project. Reeves last month backed a third runway at London's Heathrow Airport as part of a plan to revitalise economic growth.