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Service
Volume XVI No. 141
TUESDAY
EXCLUSIVE
August 4, 1981
HONGKONG GOVERNMENT ENDORSES TINSHUIWAI PROJECT
AND ADDS ANOTHER PLUM: HOW ABOUT PUTTING
IN THE NEW AIRPORT THERE ?
The Government is believed to have given the go ahead for the Tinshuiwai Project. TARGET learned exclusively today that the Government has formed the participants
has in the project that it agrees in principle to allow the consortium, which owns about 52 million square feet of agricultural land the New Territories, the right to develop the lond to accommodate a mini-town the population of which is esti- mated to be about half a million people.
The participants in the project are the
FIDE
the
Kinese Government (through China Resources
Company ) 51 percent, Trafalgar Housing Ltd, 25 percent, Cheung Kong (Holdings) Ltd, 12.50 percent, and other minority holders, 11.5 percent.
Cabut
The project is expected to take about 10 years to complete and by far the most important single aspect of the project is the fact that the Chinese Government has controlling interest in the development of the mini-town.
But the Hongkong Government's green light is only part of the story because an even more interesting development is the Government's rethink of the development of the Tinshuiwai area to include, possibly, the replacement airport in the vicinity instead of Lantau Island!
For some time, the Government has been conducting a survey of the Northern part of Lantau Island where it has proposed to put in the replacement airport.
But the cost of developing the northern part of Lantou will be at least $HK20.8 billion, the Government has discovered, whereas the cost of building the same airport
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