DHL FORMS VENTURE FOR HONG KONG EXPRESS CARGO TERMINAL

DHL FORMS VENTURE FOR HONG KONG EXPRESS CARGO TERMINAL    DHL International, an air express provider, has entered into a franchise with the Airport Authority'of Hong Kong to develop, construct, and operate a dedicated express cargo terminal at Hong Kong International Airport.
   The agreement is for 15 years, with a total investment of HK$780 million ($100 million).
   The new facility will be built in three phases in the cargo area of the airport, and will cover 18,200 square meters when it starts operations in 2004. The terminal will be able to handle about 440 tons per day, with ultimate capacity of 900 tons per day by 2014.
'DHL’s partner in the franchise, the airport authority, is a statutory body that operates and manages Hong Kong International Airport for its sole shareholder, the Hong Kong Special Administrative Region Government.
   DHL is majority-owned by Deutsche Post World Net.