Hong Kong Special Administration Region chief executive Carrie Lam (middle), AA chairman Jack So (left), and AA CEO Fred Lam (right) officiate at the ceremony for the completion of the third runway pavement. Credit: ©Airport Authority Hong Kong.

Pavement works for the new third runway have been completed at Hong Kong International Airport (HKIA), announced Airport Authority Hong Kong (AA).

Completion of the runway pavement works is said to be a major accomplishment of the three-runway system (3RS) project at HKIA.

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The event was attended by Hong Kong Special Administration Region chief executive Carrie Lam.

Lam said: “3RS is an integral part of our vision to transform from a ‘city airport’ into an ‘Airport City’. According to an earlier forecast, 3RS would generate direct, indirect and induced contributions of about 5% of the gross domestic product of Hong Kong by 2030.

“It demonstrates that 3RS would inject impetus to HKIA, as well as the overall Hong Kong economy in the future.”

The Airport City project includes retail, dining, entertainment facilities as well as office towers and a logistics centre.

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With the completion of the pavement works, the new runway is expected to begin operations next year.

AA chairman Jack So said: “I would like to express my deep gratitude to the Chief Executive, Board members, Government departments, the banking industry and the airport community for their support to the 3RS project.

“Construction works of 3RS started in August 2016, which entails the formation of 650ha of land by reclamation.”

So further said that the works also include expansion of terminal 2 (T2) as well as construction of T2 concourse, and an automated people mover system, which will be completed in 2024.

When it is completed, the airport will have a capacity to manage an annual passenger and cargo volume of around 120 million and 10 million tonnes, respectively.

Last June, AA signed five-year loan facilities worth HK$35bn ($4.5bn) with 21 local and international banks.

AA plans to use the loan facilities to fund the Three-runway System (3RS) project and other general corporate purposes.