The Government of Hong Kong has approved the Airport Authority of Hong Kong's (AAHK) proposal for the development of the third runway as an option for future development direction for Hong Kong International Airport (HKIA).
The estimated cost of the development of the third runway at the international airport is HKD86.2 billion ($11.1 billion). The project would involve reclaiming 650 hectares of land to the north of the existing airport island.
The development of the third airport will assist the HKIA to boost its passenger handling capacity to 97 million passengers and cargo handling capacity to 8.9 million tonnes per year. With the development of the third runway, the airport will be able to support 620,000 flight movements per year.
After securing approval from the government, the AAHK plans to begin a three-phase process of project planning, approval and implementation. The project planning phase will involve conduction of EIA studies and development of associated design details for facilities that are required under a three-runway system and arrangement of funds for the project.