Left:

A bird's eye view of the Kowloon Bay Depot site.

Above the Depot, a 25 acre

podium is being built to

accommodate an extensive

residential and commercial

development

左:

九龍灣車廠地盤鳥瞰。車 廠上一個面積達二十五英 畝的平台正在建造中。本 台上將興建一個住宅及商 業中心。

Right:

A model of the Telford

Gardens development which

will be built above Kowloon

Bay Depot providing 5,000

flats for about 25,000 people.

(Picture supplied by courtesy

of Clic Studios.)

ți:

九龍灣車廠上的德福花園 模型。該處將興建五千個 住宅單位,可供約二萬五 千人居住。

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of the project and that one-third of them in value terms had been let on a fixed price basis with the fixing element included in those prices being well under the Corporation's estimate of 7 per cent per annum for cost inflation during the construc- tion period. Price variation on all the remaining contracts, including the electrical and mechanical contracts, after over two years of construction has been at the average rate of 6/2 per cent per annum.

The stage has now been reached in the project where the Corporation can begin to assess cost additions that will arise from contractors' claims, again a normal aspect in civil engineering contracts and it has to be borne in mind that in value terms four-fifths of the total cost of the Modified Initial System comprises such civil engineering contracts. Provisions were made in

the original estimates for contingencies of this

nature and it is satisfactory to record at the

half-way stage in the project that the latest

estimate of total cost of the Modified Initial

System, including allowance for price variation

and claims remains substantially within

the original estimate of HK$5,800 million made in January 1975 when the Modified Initial System

was approved in principle by Government.

Tsuen Wan Extension

Following the completion of the viability study

covering an extension of the Railway to Tsuen Wan which was carried out by the Corporation in 1976 and which demonstrated to the satisfaction

of the Corporation Board that such an extension was both practical and profitable, the Government agreed in July of 1977 that the Extension should proceed. The Extension, when completed

towards the end of 1982, will provide a further contribution towards the solution of the ever- increasing transport problems of Hong Kong. This decision to proceed with the Extension was

與此有關之固定利率港元 貸款———此爲港元 貸款得到此種保証之首次。

本公司之財政狀況亦良好。本人在去年 報告中指出,已批出之所有土木、電機及機 械工程合約,總值並未超逾集體運輸鐵路臨 時管理局(本公司之前身)所作之初步工程 費用預算;按價值計算,三分之一的合約乃 以固定價格方式批出,而包括在此種價格內 之固定金,均不超逾本公司所作之預計,即 興建期間每年成本上漲百份之七。包括電機 及機械工程合約在內之所有其他合約,經過 兩年施工之後,價格變化平均爲每年上升百 分之六點左。

工程進展至今,本公司已可開始估計由 於承建商索償而導致之成本增加,此等索償 在土木工程合約方面是常見的,而按價值計 算,「修正早期系統」總工程費用中,五分之 四是用於土木工程合約。在最初預算內,已 備有應付此類開支之儲備金,而現居工程進 展至一半之際,「修正早期系統」總費用之最 新估計,包括預留價格變動及補償費用在內

,仍遠遠未達一九七五年一月當香港政府原 則上批准建造「修正早期系統」時定下之58億 港元預算。

荃灣支綫

隨着本公司完成早在一九七六年已展開 之擴建荃灣支錢可行性研究以及本公司董事 局認為擴建此支綫乃實際而有利可圖之後, 香港政府已在一九七七年七月同意進行是項 擴建計劃。荃灣支綫定一九八二年年底前完 成,屆時將可為解決本港日益嚴重之交通問 題作出更大貢獻。對本公司而言,此項擴建 支綫之決定極合時宜,因爲可讓正參加本港 地下鐵路工程之承建商參與土木工程投標, 從而免却從新由外地調動管理人員及機械之

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