Logistics: New terminal expansion further enhances logistics hub (hktdc.com)


A model of AAT’s new terminal to be built at Hong Kong International Airport which will further enhance Hong Kong’s premier air cargo hub

Asia Airfreight Terminal (AAT), Hong Kong's second-biggest air-cargo firm, is investing HK$1.75 billion (US$226 million) in a new terminal at the Hong Kong International Airport (HKIA) to cater to fast-growing trade flowing through the region's leading aviation hub.

The four-storey terminal, to be completed by December 2006, will triple AAT's current annual design capacity to 1.5 million tonnes amid bullish forecasts that Hong Kong's air cargo traffic is expected to grow 6 per cent this year.

HKIA handled 55,210 tonnes of express cargo in the first quarter, up 23 per cent year on year.

"The expansion demonstrates AAT's confidence in Hong Kong as the premier air cargo hub of the region and underlines our long-term commitment to support its growth," said AAT CEO Daniel Soh.

Airport Authority CEO Dr David Pang welcomed AAT's support for Hong Kong's initiative to be the logistics service hub within the Pan-Pearl River Delta region in southern China. "Hong Kong is the key logistics centre for southern China and we in HKIA play an important role in connecting this region and the world with our extensive aviation network," said Dr Pang.

Logistics is one of the four pillars that support the Hong Kong economy, with air cargo accounting over 30 per cent of Hong Kong's total trade value. In 2003, HKIA handled 2.64 million tonnes of air cargo, up 6.6 per cent compared with 2002.