The Board of Airport Authority Hong Kong awarded a franchise to building a new cargo terminal at Hong Kong International Airport (HKIA) to a subsidiary of Cathay Pacific Airways Limited here Tuesday.
According to the contract, Cathay Pacific Services Limited, a subsidiary of the parent airways, will design, construct and operate the 10-hectare new cargo terminal during the non-exclusive,20-year franchise.
The new terminal and recently completed enhancements to the cargo apron, taxiways and aircraft stands will equip HKIA to meet future demand for cargo services and to maintain its position as the region's premier air cargo hub.
"The new cargo terminal will reinforce the competitiveness of HKIA as a regional and international air cargo hub." Airport Authority Chief Executive Officer Stanley Hui said, adding "it will provide additional choices for airlines, shippers and freight forwarders.
"I believe it will bring substantial economic benefits, in the form of new jobs and business opportunities, to Hong Kong," he said.
Scheduled to open in the second half of 2011, the new terminal will have an annual capacity of about 2.6 million tons and increase the airport's total general and express cargo handling capacity to 7.4 million tons per annum.
According to Cathay Pacific Services, construction of the new terminal will create over 400 jobs. When it starts operation, the facility will employ more than 1,700 people.
The decision to build a new cargo terminal was made after the Airport Authority held extensive consultations with Hong Kong's air cargo and logistics industry.
In December 2006, the Airport Authority called for pre- qualification proposals, which was followed by invitation for submission of business plans. The Airport Authority assessed the business plans and decided to award the franchise to Cathay Pacific Services as a result of an open and competitive tender process.
The Airport Authority also invited the Independent Commission Against Corruption as an independent advisor to oversee the process.
Driven by the rapid expansion of the Chinese mainland's economy and robust global trade, cargo throughput at HKIA rose 4.5 percent in 2007, to 3.74 million tons. The air cargo industry handled over1.9 trillion HK dollars (243.6 billion US dollars) worth of goods in 2007, accounting 35 percent of Hong Kong's total external trade.
HKIA has remained the world's busiest international cargo airport for the 11th consecutive year.
Source: Xinhua
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