A financial consultant was appointed in December 2016 to study the detailed funding plan for the 3RS project. The objective of the study was to analyse different debt structures, identify suitable forms of financial instruments, and make recommendations on the financial instruments in relation to their timing, size and tenor that will enable AAHK to raise funding for the 3RS project in the most optimal manner. The detailed funding plan was completed in September 2017 and the recommended funding sources include institutional bonds (covering green bonds), retail bonds, and commercial bank loans. The full report of the detailed funding plan is available at https://www.threerunwaysystem.com/media/1754/3rs-detailed-funding-plan-report.pdf.
The first phase of the 3RS construction is to form approximately 650 hectares of land north of the existing airport island by reclamation. About 40% of the reclaimed area is underlain by disused contaminated mud pits (CMPs) which contain pollutants including heavy metals and organic compounds. DCM was adopted for the first time in Hong Kong to strengthen the soft mud in these CMPs in-place prior to forming land above them. Details of DCM and the land formation process can be found below.