JARDINE TO JOIN CONSORTIUM FOR HK SECOND AIRPORT
The Bermuda registered <Jardine
Matheson and Co Ltd> has indicated it would participate in a
local consortium led by Hopewell Holdings Ltd <HPWH.HK> which
has proposed to build the second airport here, a Hopewell
statement said.
    Jardine Matheson will take up a five pct stake in the joint
venture which has presented the government with a 25 billion
H.K. Dlr infrastructure development plan for Hong Kong's
offshore island of Lantau.
    The proposal includes an airport, a deep-water port and
highways linking with Southern China.
    Hopewell, which initiated the proposal, owns a 20 pct stake
in the consortium. Chairman of the firm Gordon Wu said recently
he expects the airport to start operation by mid-1992 and the
whole project to be completed by 1993 if an approval for the
project is obtained within a year.
    Other partners of the joint venture comprise a combined 20
pct stake by Cheung Kong (Holdings) Ltd <CKGH.HKG> and
Hutchison Whampoa Ltd <HWHH.HKG>, while Wu said at that time
the remaining 60 pct will be taken up by other interested
parties -- the public, and probably the Hong Kong and Chinese
governments.
 REUTER
