39
in the record time of 19 months.
schedule.
That is two years ahead of
It will be fully operational in two weeks' time.
The site for
Terminal Eight will be let for private sector
development in the first quarter of next year. The aim is
to have it ready for use during 1993.
74.
The Government, too, has an important role to play
Part of this is
to
provide
in port development.
breakwaters,
typhoon shelters and additional land for cargo
handling and container storage. Another, crucial, role is
to ensure that additional facilities become available at the
right time and in the
task, the
administration
right place. In carrying out this
will now have the advantage of
advice from the Port Development Board, which started work
in August.
75.
The
estimate of the total cost of the new port
development is some $55 billion at current prices. But it
remember that this expenditure will be
is important
to
committed in phases, between now and the year 2006, and that
the commercial
induce private
viability of the development is expected to
business to invest some 80% of the finance
The
policy is
to provide new port capacity as
as,
but
по sooner
than, it is required.
This
required.
soon
/incremental