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3.
On 1 April 1985, nine consortia or individual
companies submitted proposals and in July 1985, after a
very detailed analysis, the Governor-in-Council decided to
go ahead with a combined road/Mass Transit Railway tunnel
and to invite revised proposals from a short list of three
consortia. As a basis for these proposals a more precise
Project Brief was issued which, inter alia, covered design
and construction standards, laid down target tolls for
1989 $10 for a private car; noted that the length of the
franchise and royalty or equity for Government were
negotiable, offered a 5 year exemption from passage tax,
and, in respect of the rail tunnel, stipulated that the
Mass Transit Railway Corporation lease payments should not
be greater than their forecast net incremental revenue and
that there be no cross subsidy from the road tunnel.
4.
On 1 October 1985, revised proposals based on
this Project Brief were received from the shortlisted
consortia and were the subject of negotiations until
3 November. An assessment of the relative financial and
engineering merits of the three final, negotiated
proposals indicated that the best bid was that from the
New Hong Kong Tunnel Consortium and following the decision
of the Governor-in-Council, on 5 December 1985 a contract
was signed with this Consortium, on the basis of their
final proposal, subject only to the enactment of the
Eastern Harbour Crossing Ordinance.
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