GOVERMENT NUUSE
NUMU.
400
JL
FG.07.
-4-
The Airport Railway
by
The cash flows have been adjusted increasing the level of paid-up equity by $15bn.
On that basis:
a) the maxinun debt of the MTRC would be
reduced to $29.9bn
borrowings required to
from
$47.9bn. The
finance
the
construction of the Airport Railway would be reduced from $36bn to $17bn;
b) all debt related to the Airport Railway could be repaid by 2006;
c) deferral of payment of dividends to the
SARG would до longer be needed. Dividends
would be paid from 1997 the same time as
if the MTRC had not undertaken the Airport
Railway;
d)... savings in total project cost would be possible because of the reduction in
interest and financing charges. The order of savings would be about $4.3bn.