Cathay Pacific plans to build an air cargo terminal at Hong Kong International Airport (HKIA) to increase the airport's cargo-handling capacity.
The airline will invest HK$5.5bn (US$707m) to build the seven-storey terminal over 10ha of land adjacent to the airport, according to Hong Kong's English newspaper, The Standard.
The cargo terminal should increase HKIA's total handling capacity by around 50% to an estimated 7.4 million tons a year.
The planned terminal's annual capacity will be 2.6 million tons when it begins operations in early 2013 and will rise to 4.8 million tons in 2017 when the facility becomes fully operational.
Siemens project manger Frank Fernschild said the new terminal would minimise handling and waiting time for trucks, with land-use efficiency over 25t/m².
In 2008, the Airport Authority of Hong Kong awarded a contract to Cathay Pacific to design, build and operate the terminal under a 20-year deal.
Cargo volume at HKIA is estimated to grow to eight million tons a year by 2025.