| Tools: Save | Print | E-mail | Most Read |
| HK Airport Authority to Jointly Manage Zhuhai Airport |
| Adjust font size: |
The Hong Kong Airport Authority (AA) won approval from the central government on Wednesday to take a strong foothold on the Chinese mainland by jointly managing It's the first time The agreement between the State-owned Assets Supervision and Administration Commission of Zhuhai city and the AA to jointly operate The AA will establish a new joint venture to be known as the Zhuhai-Hong Kong Airport Management Company Ltd. to manage and operate the The joint venture with a registered capital of 360 million yuan (US$45 million) will pay a franchise fee for the exclusive operational rights, said the release. But it did not reveal what the franchise payment was. According to the agreement the AA holds the joint venture's 55 percent stake which it acquired for 198 million yuan (US$24.75 million) through its wholly owned subsidiary HKIA ( The joint venture's remaining shares will be held by the State-owned Assets Supervision and Administration Commission of Zhuhai city government through an injection of 162 million yuan (US$20.25 million) from its wholly owned company Zhuhai Headway Transportation Investment Co. Ltd. The joint venture's two parent companies will discuss the timing and details of share acquisition for the project, said the press release. The joint venture's management will be based on the existing team and working closely with them will expand Deng Weilong, Secretary of Zhuhai city committee of the Communist Party of China (CPC), said the deal was of profound significance. He said the cooperation between the two airports, the soon-to-be-built Victor Fung Kwok-king, AA Chairman, said the cooperation between HKIA and Pearl River Delta airports showcased (Xinhua News Agency August 3, 2006) |
| Tools: Save | Print | E-mail | Most Read |
 |
| Related Stories |
| Product Directory China Search |
Country Search Hot Buys |
