The money will be spent in the forthcoming financial year on expanding both the north and south terminals’ departure lounges and shopping facilities.
The railway station will also receive an upgrade while additional pier capacity and airfield optimisation will further help operations.
The money is being spent as part of the airport’s £1.2 billion, five-year capital investment plan.
The news was announced as the airport released its six-month results for the period ending September 30, 2016 which revealed passenger numbers were up by 6.3% year on year to 25 million passengers.
Long haul routes grew by 21% in the same period and were boosted by a 40% increase in North Atlantic routes. UK domestic routes also grew by 7%.
The passenger boost saw revenue up by 8.1% to £445.2 million while a profit before tax of £116 million was also posted.
Stewart Wingate, chief executive of Gatwick, said: “Gatwick represents the changing face of aviation – demonstrated by today’s results.
“We continue to grow strongly breaking records as passengers respond to the variety on offer at the airport, low-cost, charter airlines and full services airlines.
“All are now flying more passengers on more flights to more global destinations than ever.
“Our long-haul routes have grown 21% with the very latest of these British Airways’ new route to Cape Town starting today.
“Meanwhile, next summer Gatwick will start the UK’s only direct route to Xi’an China – home of the Terracotta Army.
“This year destinations in China, Peru, Canada, Costa Rica, Nigeria, as well as the US have been added to the airport’s line-up of long-haul routes whilst the Airport Council International have recognised that Gatwick is one of the fastest growing airports in Europe.
“Today’s announcement demonstrates Gatwick’s ongoing commitment to our development and growth, maintaining our vital role within the UK economy as we continue to offer the UK Government a credible and deliverable option for runway expansion.”
