HONG KONG BACKGROUND BRIEF: NOVEMBER 1992
NEW AIRPORT AND RELATED INFRASTRUCTURE PROJECTS
1. In October 1989 the then Governor announced plans for the
long-term development of Hong Kong's port and airport, including
the construction of a new international airport at Chek Lap Kok
to the north of Lantau Island as a replacement for Kai Tak
airport. The new airport is scheduled to open in 1997 with one runway in operation. When fully developed, it will have two runways, will be able to operate 24 hours a day and will be able to handle 80 million passengers a year. Supporting infrastructure will include major bridges, a tunnel linking
North Lantau to Hong Kong Island via Tsing Yi and West Kowloon, and road and rail transport links. Building the new airport and
the associated road and rail links will be the largest
infrastructure project ever undertaken in Hong Kong. Many
international companies are involved in the funding, design and implementation of the project.
2.
The Hong Kong Government estimate that the cost of airport
core projects including all the infrastructure projects amounts
to HK$ 112.2 billion (£7.6 bn) at March 1991 prices. The
Hong Kong Government estimate that some 60% of the cost will be
met by the private sector by taking on commercially attractive
projects and financing. Revenue from the redevelopment of the existing Kai Tak airport and developments on the large areas on
new reclaimed land will provide substantial additional funds in
due course, and the new airport and toll roads will provide
further revenue.
During 1989 and 1990 it became clear that the private sector wanted to see firm support from China for the project before they would commit substantial funds whose pay-back period would
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