Days after Sydney Airport unveiled makeover plans to its terminals, Melbourne Airport has released plans to build a $300 million passenger terminal.

Announced this morning, the airport said it hopes to have a new interconnected domestic Terminal Four running by the middle of 2014, The Sydney Morning Herald reported.

To be situated south of Terminal Three, the airport’s chief executive Chris Woodruff said the additional terminal needs pass appropriate approval but predicts construction to commence within nine months.

Mr Woodruff said while he can’t reveal which carrier would use the new terminal, it would replace the current Terminal Four used by Tiger Airways.

''The expansion will take into account the anticipated growth of Virgin Australia as their business grows,'' Mr Woodruff said.

Terminal Three, utilised by Virgin Australia will also receive a few touch ups with Virgin’s new image.