Airport Authority Hong Kong has announced a major expansion of the city’s international airport.
Chief Executive Stanley Hui said the HK $7 billion expansion will be spread out over four years and is necessary to keep up with rising air traffic demand.
Construction of a new passenger terminal is expected to begin in the third quarter of 2011.
The new terminal will create about 2,000 jobs and increase passenger capacity by 10 million annually, according to Hui.
He said the airport will also consider adding a third runway after weighing the environmental and economic impacts of such a plan.
A second phase of the project will be announced in the near future, said Hui. That phase is expected to boost capacity by an additional 10 million. The total cost of the plan amounts to about US $900 million.
Source: Wall Street Journal