HANDEDOVEN
UPDATE ON THE FINANCIAL ASPECTS
OF THE AIRPORT CORE PROGRAMME
SPEAKING NOTE
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27,392
CC N WHITNEY CAB
M SENE HUD JROGAN PERING
I am pleased to be able to hand over to the Chinese side an
information paper on the updated position on the financial
aspects of the whole Airport Core Programme. This paper covers
the revised costs of the whole programme and the individual
component projects, as well as the apportionment of funding
between Government and the private sector. This latest set of
figures is the result of nine months of careful review and
substantial progress in the design and implementation of
projects. They also reflect the financial arrangements that we
propose for the Airport Railway and the Airport. I hope to be in
a position to hand over to you a paper on the details of the
proposed financial arrangement of the Airport Authority early
next week.
The paper on the updated financial position is fairly
straight-forward. Perhaps I should just highlight a few points
now.
First, despite an overall increase in the ACP cost from
$98.6 billion to $112.2 billion, the cost to be borne by the
Government in the form of capital expenditure and equity
investment has remained at the same level, ie $59.3 billion at
March 1991 prices, as shown below: