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Gammon secures HSBC green guarantee for Hong Kong airport project
HK$258 million deal linked to environmental targets for expansion works at Terminal 2
16 Jul 2021 | The Asset

Gammon Construction has secured a green guarantee of  HK$258 million (US$33.2 million) from HSBC to support its expansion works at Terminal 2 of the Hong Kong International Airport.

Executed in the form of a green performance bond, the green guarantee is innovatively structured as a contract with Gammon for the project to meet its green obligations and deliver a BEAM (Building Environmental Assessment Method) Plus Platinum rating – the highest qualification level of the comprehensive certification standard for green properties.

In order to achieve the target, Gammon must implement the project with construction practices that reduce the environmental impacts of the terminal building while improving environmental quality and user satisfaction.

In addition to delivering a green building project, the team is implementing a number of initiatives during the construction, including:

  • The use of prefabricated modules to facilitate low-waste construction;
  • The use of a mass battery storage system, called the Enertainer, to reduce noise, air pollution and carbon emissions on site;
  • The use of ready-mix concrete with Construction Industry Council (CIC) Green Product Certification and the use of CIC carbon assessment tool to track carbon performance;
  • Reuse of treated marine sediment to avoid marine dumping; and
  • Recycling of removed trees to reduce yard waste disposal.

The project of Airport Authority Hong Kong is the largest single contract awarded to Gammon with a contract value of HK$12.88 billion. It has also recently received the first sustainable finance certification for a pilot project issued by the CIC.

Kevin Poole, executive director, third runway, Airport Authority Hong Kong, says: “Hong Kong International Airport aspires to be one of the world’s greenest airports and actively seeks to implement green designs in our construction projects. Our expanded T2 has been awarded the BEAM Plus Provisional Platinum rating, which is a testament to our dedication to the environment and our capability in realizing this vision in our projects. We are pleased to know that Gammon, our main contractor for the superstructure works of the expanded T2, has agreed on a green guarantee for the project, sharing our vision of implementing best practices in all aspects of our business.”

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