Deal to enhance HK, Zhuhai aviation cooperation

The Airport Authority of Hong Kong Special Administrative Region signed an equity cooperation agreement with Zhuhai Transportation Holding Group on Tuesday to purchase a 35 percent stake in Zhuhai Airport, located in the western bank of the Pearl River estuary, Guangdong province.

The equity cooperation agreement involves an investment valued at about 4.3 billion yuan ($594.39 million).

The move will not only strengthen the cooperation between Hong Kong International Airport (HKIA) and Zhuhai Airport, but also further enhance the development of the world-class airport cluster in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), as well as the aviation industry in the southern Chinese region, according to a statement issued by the airport authority.