The much anticipated third runway system (3RS) for Hong Kong Chek Lap Kok has been given the green light for construction to go ahead by the Executive Council to the delight of the Airport Authority Hong Kong.

The $18.2 billion project will see 650 hectares of land reclaimed from the sea at the northern boundary of the existing site and the construction of a third parallel runway for the airport, alongside associated taxiways and aprons. Ultimately, the plan calls for construction of a new passenger concourse and an expanded Terminal 2.

The Hong Kong International Airport Master Plan 2030 aims for the new phase of construction to add 30 million passengers to the annual capacity of the airport, taking it to 90 million.

Touted as a great triumph for the airport by those involved, under the surface lie a number of issues that many believe need to be resolved before work can begin on the huge project. Most importantly is the aspect of financing the construction.

With Hong Kong suffering political unrest in recent months and confidence low in the current government, taking on the cost of this project alongside a wave of other construction work across the island has caused further resentment among some citizens.

Official sources say the cost of the new runway will be handled through bank loans, bonds, operational surplus and a $23 tax on departing passengers. The latter has upset resident airline Cathay Pacific. It has slammed the plan, saying it will damage the airport's competitiveness in the region.

The $18.2 billion project will see 650 hectares of land reclaimed from the sea at the northern boundary of the existing site and the construction of a third parallel runway for the airport.

Another issue in the construction is the complicated and restricted airspace surrounding Hong Kong and the Pearl River Delta region. With China's military governing the country's airspace, civilian flight paths are restricted. Aircraft inbound to Hong Kong face a convoluted procedure to approach the airport.

When combined with other hubs nearby at Guangzhou, Macau, Shenzhen and Zhuhai, airspace is already difficult to manage. Adding a third runway at Hong Kong will complicate things further without some resolution to the bottleneck.

Finally, some believe that with Hong Kong's two existing runways only currently operating at just over 80 percent capacity, there is no immediate need to increase capacity. A case study is Guanghzou's new runway, which is only handling 10 flights per day.

However, Hong Kong is forecasting growth in the coming years. Therefore, by the time the third runway opens in 2023, it should be the perfect time to add infrastructure to meet demand, particularly at peak periods.

"Like other infrastructural works of this magnitude, the development of the 3RS will be a long process," said Fred Lam, chief executive of the Airport Authority. "But this will not deter us from doing what is necessary to build a better future for our city. The 3RS will bring more business, more jobs and more convenience to Hong Kong. We will collaborate with the government, the aviation industry, our stakeholders and the city's residents to make it happen."