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“The 3RS [three-runway system] will bring more business, more jobs and more convenience to Hong Kong.“ |
Fred Lam CEO Airport Authority Hong Kong |
HONG KONG. Airport Authority Hong Kong has welcomed the news that Hong Kong International Airport (HKIA) has been granted approval to expand into a three-runway system. The new facility, to be located on 650 hectares of reclaimed land, will expand the airport capacity by 30 million passengers. It will include a new runway, taxiways and aprons, a third runway concourse, an expanded Terminal 2, an automated people mover and a baggage handling system.
The eight-year construction project, anticipated to cost HK$141.5 billion (US$18.2 billion) in today’s prices – will begin in 2016 and end in 2023.
Airport Authority Hong Kong Chairman Vincent Lo Hong-sui commented: “Expanding HKIA into a three-runway system provides obvious benefits. It will consolidate our city’s status as an international and regional aviation hub, spur economic development and create hundreds of thousands of jobs. This is a project for Hong Kong, and we are committed to taking it forward.”
Funding for the project has been proposed on a “joint contribution and user-pay” principle, and will incorporate bank loans and bonds, HKIA’s operational surplus (which has typically been paid to the Government as dividends) and end-users, including passengers and airlines.
Airport Authority Hong Kong CEO Fred Lam noted: “Around 70% of HKIA’s passengers are non-Hong Kong residents. Our suggested user-pay principle makes good sense, because subsidising the project through the Government means local taxpayers would be footing the bill for overseas passengers.
“We understand that ExCo [the Executive Council] has concerns about the amount that would be charged to passengers. We will look into further adjustments and determine whether they are feasible.”
He concluded: “Like other infrastructural works of this magnitude, the development of the 3RS [three-runway system] will be a long process. But this will not deter us from doing what is necessary to build a better future for our city. The 3RS will bring more business, more jobs and more convenience to Hong Kong. We will collaborate with the Government, the aviation industry, our stakeholders and the city’s residents to make it happen.”
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The ambitious eight-year construction project is scheduled for completion by 2023 |
