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Non-in situ land exchange with Chu Kong Shipping in Tuen Mun Area 40
     The Government announced today (August 3) a non-in situ land exchange at full market value premium with a river trade operator to facilitate the construction of the Tuen Mun - Chek Lap Kok Link (TM-CLKL).

     The marine frontage of the river trade cargo terminal at Tuen Mun Area 40 owned by Chu Kong Shipping Enterprises (Group) Company Limited has to be given up to the Government for the construction of the TM-CLKL. To enable Chu Kong Shipping to continue with its river trade operation, a non-in situ land exchange at full market value premium has been approved, under which Chu Kong Shipping is granted a reclaimed site with marine frontage (Tuen Mun Town Lot No. 491) while the company will surrender its cargo terminal (Section A of Tuen Mun Town Lot No. 320) to the Government.

     A spokesman for the Transport and Housing Bureau said, "For the construction of the TM-CLKL, which will strengthen the transportation network by providing an alternate route to the Hong Kong International Airport, we need to extinguish the marine access right of Chu Kong Shipping's existing cargo terminal. As river trade is a major component of Hong Kong's logistics industry in South China trade, the Government has decided to enable the continuing operation of Chu Kong Shipping's cargo terminal through land exchange, which is a win-win solution for Hong Kong."

     There is an underground tunnel beneath the site granted to Chu Kong Shipping and stringent loading and height restrictions are imposed on the use of the site. As a result, although the granted site is larger than the one to be surrendered, the cargo handling capacity of Chu Kong Shipping will be similar after relocation. Moreover, under the lease, the granted site can only be used for river trade and cannot be used for other non-related operations. Chu Kong Shipping has paid a land premium reflecting the difference in full market values between the site surrendered and the relocation site granted. The construction of the new river trade cargo terminal is at Chu Kong Shipping's own expense.

     "The relocation site was handed over to Chu Kong Shipping today to enable it to construct the cargo-handling, berthing and other wharf-related essential facilities. We have granted Chu Kong Shipping the right to use its existing cargo terminal till later this year to maintain its river trade operation whilst construction in the new site progresses," the spokesman added.

     Waterborne cargoes constitute 90 per cent of all cargo movements in Hong Kong, and river trade is a major component of Hong Kong's logistics industry in the South China trade. In 2015, 73 800 river trade vessels called on Hong Kong; they carried about 30 per cent of Hong Kong's total cross-boundary throughput.

     "From the perspective of supporting Hong Kong's river trade and logistics industry, it is necessary to enable the continued operation of Chu Kong Shipping's cargo terminal in its present mode and scale. River trade is an integral part of the Hong Kong Port's activities by directing cargoes collected from the Pearl River Delta ports to Hong Kong for processing and re-export, as well as for local consumption," the spokesman said.
Ends/Wednesday, August 3, 2016
Issued at HKT 16:36
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