Tradeport Hong Hong Achieves construction Milestone
- Airport Logistics Centre on Track for Full Operation in Early 2003 -

HONG KONG, 18th October 2001 -- Tradeport Hong Kong today held its superstructure ground breaking ceremony at the site of its logistics centre at the Hong Kong International Airport at Chek Lap Kok. The event was a significant milestone marking the consortium's commitment to strengthening Hong Kong's position as a leading trade hub and logistics centre in north Asia, and further demonstrated the group's overall confidence in the strong, long-term growth prospects of Asian economies.

"We are delighted to be at Chek Lap Kok today to mark the ground breaking of the logistics centre's superstructure," said Duncan Straughen, Chairman of Tradeport Hong Kong. "Our consortium has the international experience, operational expertise and strong financial standing that are required to build a facility which, once completed, will house Asia's first and foremost airport logistics centre. We will be uniquely positioned to serve the growing trading needs of our partners and customers in Asia, and across the world."

"Our activities clearly support the advancement of Hong Kong as a leading logistics centre in Asia. In this regard, we echo closely Hong Kong Government's policy of developing the logistics industry as an important focus of growth in Hong Kong's economy and positioning logistics as a key component of Hong Kong's strategic development. Chief Executive Tung Chee Hwa's recent remarks in his policy address only serve to reinforce this commitment to the logistics industry."

Tradeport Hong Kong began foundation work in June 2001. The facility was designed by LPT Architects Limited, who are specialists in designing facilities for airports and logistics terminal projects, and are highly experienced in meeting the demanding requirements of large, fast track contracts. The builders are Gammon Construction Limited, which is one of the most respected construction companies in Asia, and have consistently demonstrated considerable competence in a broad range of industrial and infrastructure construction projects in Asia.

In less than 18 months and at a cost of over HK$500 million, there will stand on the site a three storey, 31,400 square meters facility, able to provide top quality, value added logistics services to a broad clientele. A second phase of an additional 10,000 square meters will be completed as required to support the growing business.

The facility will be equipped with state-of-the-art equipment, security, computer and communication systems and will be especially well suited to serve the needs of the computer, telecom, medical, pharmaceutical, high-end textiles and luxury goods industries.

Members of the consortium gathered, together with Guests of Honour Mr. Antony Leung, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) and Mr. Zheng Kun Sheng, Deputy Director (Vice-Minister) of Liaison Office of the Central People's Government in the HKSAR, as well as the Chief Executive Officer of Airport Authority, Dr David J Pang, to commemorate the event.

The Tradeport Hong Kong consortium comprises China National Aviation Company Limited (CNAC); Hongkong Land; Jardine Logistics and Pantares, the airport alliance created between Fraport AG - Frankfurt Airport Services Worldwide and the Schiphol Group.

"Tradeport Hong Kong's mission is to develop a logistics centre which is second to none and therefore a natural gateway into and out of Asia, serving trading partners in the region and worldwide. With the combined expertise and skills of the consortium partners we are uniquely well placed to realise that mission," commented Mr. Straughen.

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