The Executive Council has endorsed the construction of a third runway at Hong Kong International Airport.
Secretary for Transport & Housing Eva Cheng told the media today the Airport Authority can proceed with an environmental impact assessment, and plan design details and financial arrangements.
The Government has asked the authority to conduct the environmental study in a strict and professional manner, looking at marine ecology, noise and air quality. The assessment is expected to take two years.
The Government wants the authority to complete the assessment, design and financial options by the end of 2014, so the runway can be built by 2023.
The forecast cost of the development is $136 billion.
A high-level steering committee will be set up to work with the authority on the project, along with a dedicated team led by the associated policy bureau.
Ms Cheng emphasised the need for long-term planning for the airport, as air traffic last year already reached the forecast demand for 2013, as stated in the Master Plan 2030.