HONG KONG Air Cargo Terminals Ltd (HACTL) will spend $7.8 billion to build the world's largest and most advanced air cargo complex at Chek Lap Kok.
Managing director Anthony Charter said a third of the funds would be raised from shareholders and the remainder would be provided by banks.
Twelve banks, including Bank of China, Hongkong Bank and Hang Seng Bank, have arranged a $6.2 billion loan for the project.
On completion in August 1998, SuperTerminal 1 would have a designed capacity of 2.6 million tonnes a year.
'It will enable us to meet the needs of businesses in Hong Kong and southern China well into the next decade,' Mr Charter said.
The complex would include a six-storey main building with a floor area of 2.95 million square feet, plus a two-storey express centre providing a further 495,000 sq ft.