LANTAU ISLAND/WESTERN HARBOUR DEVELOPMENT
BACKGROUND NOTE
1
Mr Gorton Wu of Hopewell Holdings, together with Hutchinsons, are promoting a project to increase very significantly port and airport facilities in Hong Kong, to provide improved road links to the People's Republic, with the objective of assuring Hong Kong's future as the major entrepot for southern China.
2
The proposal, estimated to cost £2-3 billion, is to:-
a
b
d
provide a new highway from the "Superhighway" from Hong Kong to Guangzhou (Canton) which Mr Wu's company has just started to build, from the border to Hong Kong Island via undeveloped island of Lantau and an artificial island;
provide new deep water ports at Ma Wan, Lantau and the new artificial island;
open up Lantau Island for industrial, commercial and housing development;
build a new twin runway International Airport at either Chek Lap Kok or the new artifical island
thereby releasing land at the present airport (Kai Tak) for further development.
Mr Wu and his fellow promoters want to implement the project quickly so that it is in operation by 1992, giving 5 years of operation before Hong Kong is transferred to the People's Republic in 1997.
3
The project is highly speculative and requires rapid decision taking by the Hong Kong Government (HKG) if the financing is to be assembled quickly. Mr Wu's company, Hopewell Holdings, is the prime promoter but Costains, Slipform Engineering and Ove Arup are also involved and all can be expected to press the HKG hard. We can expect pressure on the British Government, to "influence HKG, too.
4
The project brings together a number of projects which have been considered in isolation from time to time by the HKG. HKG have reacted to Mr Wu's plan by setting up working parties to look at them in conjunction with their own ongoing studies, eg of the need for increased airport facilities. These studies are unlikely to be completed as quickly as Mr Wu would like.
5
Mr Wu has said that he wants the maximum possible British participation. The project might produce up to £1 billion of UK content and Mr Wu is anxious to ensure that a coordinated UK approach is made. All companies interested are being referred to Costains, who are taking the lead, in the hope that squabbling among British companies can be reduced to the minimum. There is of course considerable Japanese interest and, if British companies and banks cannot deliver, Mr Wu would doubtless turn to them.
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