The Hong Kong government gave its final approval for a third runway at the airport yesterday, despite unresolved concerns about financing, international airspace and environmental impact.
The project, which will see about 1,600 acres of land reclaimed from the sea, some of which is Chinese dolphin habitat, could start as early as next year.
The latest budget is set at a hefty HKD141.5 billion, which Hong Kong’s Airport Authority claims will not be passed on to taxpayers.
Instead it plans to draw the funds from internal surpluses, external bank loans and user charges.
Hong Kong International Airport handled 63.4 million passengers and 4.4 million metric tons of cargo last year, but expects to reach maximum capacity by 2022.
The Airport Authority predicts that a third runway will allow it to process 102 million passengers and 8.9 million tons of cargo once fully implemented.
Most of Hong Kong’s air travel visitors come from mainland China, one of the world’s fastest growing markets.
Photo: Atkinsglobal.com
