5 -
(b)
a substantial part of the cost of the Chek Lap Kok airport will be funded from the private sector, mainly through loans to the Airport Authority, and
through private sector investment in major tenant
facilities such as air cargo terminals and aircraft
maintenance facilities.
PORT DEVELOPMENT AND OTHER CAPITAL EXPENDITURE
the
10. As noted in para 8 above, the key projects necessary for opening of the first runway do not include any port project. This, however, does not mean that port development will not be proceeded with or that no Government funds will be
made available for this purpose in the years ahead. Insofar as financing is concerned, the Government expects that the private sector will continue to finance, build and operate new container terminals as was done for the existing seven
terminals.
multi-purpose
The
Government
terminals
also expects the future to be financed by the private sector.
The Government will continue with the existing arrangement of providing essential support facilities such as the provision
of breakwaters, dredging of navigation channels, provision of
back-up areas for container/multi-purpose terminal operation and anchor buoys for ships. These works will be carried out
as part of the Government's on-going public works programme.
11. While priority will be given to the key airport projects, it is important to keep this in perspective. In the coming years, we have allowed substantial resources for public works
expenditure in areas such as port development, education, the
environment, water supply, new town development, health and
rehabilitation, and transport. Capital expenditure in these
resources allowed for land acquisition,
areas,
together with