CONFIDENTIAL
機密
XCC(75)55
(d)
4
completed the process of pre-qualifying would-be tenderers for the civil engineering contracts and issued tender documents for the first 13 out a total of 25 contracts;
(e) completed the pre-qualification exercise for the electrical and mechanical contracts, and issued tender documents for the first 7 out of a total of 10 contracts. (For these contracts, tenders are not due in until early 1976);
(f) requested the Director of Public Works to publish
the Railway Area Plans;
(g) received and analysed tenders for the first four
civil contracts;
(h) updated the cash flow tables and re-assessed the
viability of the System;
(i) examined proposals for property development above
certain Railway sites;
(j) made all the necessary arrangements, including
preparation for land clearances, in order to ensure the early commencement of work as and when the final decision actually to proceed with the System is taken.
In addition, the Mass Transit Railway Corporation Bill has been passed by the Legislative Council and can be brought into effect on a date to be decided by the Governor.
Present Position
7
(a) Cost
In January this year, as detailed in Annex D to memorandum XCS(75)1, the Modified Initial System was estimated to cost $4,664 million (at October 1974 prices). Allowing for escalation, which was assumed to be 7% per annum, this was equivalent to a total of $5, 850 million by the time of completion. Of the total cost of $4, 664 million, the cost of construction and equipment was estimated to be $3, 920 million (roughly equivalent to $4, 900 million after escalation at 7% per annum). About 80% of the cost of construction is in respect of civil engineering works and 20% in respect of electrical and mechanical works.
CONFIDENTIAL
機密