CORRECTED - CORRECTED-UPDATE 1-Bangkok's Suvarnabhumi Airport in $2 bln expa

(Corrects to remove references to third runway) (Adds details, quote)

BANGKOK Aug 24 (Reuters) - The Thai government approved a $2 billion plan on Tuesday to expand capacity at Bangkok's Suvarnabhumi Airport by 50 percent with a new passenger terminal, connecting tunnel and parking areas.

The 62 billion baht second phase of the four-year-old airport, Southeast Asia's biggest, would lift capacity to 60 million passengers from 40 million, the airport operator said.

Transport Minister Sopon Zarum told reporters construction would be completed by 2016.

Suvarnabhumi is run by Airports of Thailand Pcl AOT.BK, operator of Thailand's six main airports. By midday, its shares were down 0.63 percent at 39.75 baht, while the overall market was 0.24 percent lower. ($1=31.46 Baht) (Reporting by Pracha Hariraksapitak; Writing by Arada Kultawanich; Editing by Jason Szep)