Dubai Airports is looking to raise $1 billion in funds for the expansion of its second airport, a report said.

The government-owned airport operator is talking to banks about the export-credit agency-backed fundraising, which is likely to have a maturity of more than 10 years, a report in Gulf Times said citing people with knowledge of the matter.

The funds will cover the setting up of a baggage-handling system and an automated people mover to carry passengers within the new Al Maktoum International Airport.

The new fundraising follows the $3 billion loan that Dubai Airports raised in May to fund the expansion of this facility as well as of Dubai International Airport, the report said.