China Travel International Investment has teamed with Henry Fok Ying-tung and Shun Tak Holdings to bid for the logistics centre project at the Hong Kong International Airport. China Travel vice-chairman Zhu Yuening, after an annual general meeting yesterday, said the three parties would take equal stakes in the project. He said the amount of investment had not been worked out. Mr Zhu, who has been demoted from the chairmanship, said his company's management reshuffle was the central government's decision. The operators of the centre also will be responsible for cargo shipment between the logistics centre and Shenzhen and other places in the Pearl River Delta. All three companies operate transportation businesses in the delta region. Earlier, Chu Kong Shipping Enterprises (Holdings), the parent of the red-chip Chu Kong Shipping Development, expressed interest in the project. Chu Kong Shipping Enterprises (Holdings) operates cargo terminals and transportation in the Pearl River Delta. The Hong Kong Government plans to establish the logistics centre at the airport in anticipation of the increasing integration of the economies of Hong Kong and the Delta. It is also mindful of the rapid growth of cargo volume. Cargo growth at Hong Kong International Airport gained momentum in March when 195,000 tonnes were handled, 24.3 per cent more than in March last year. The total for the 12 months to April 30 reached 2.06 million tonnes. That was a rise of 25.3 per cent over the 1998-1999 period, according to the Hong Kong Airport Authority.