CASH FLOWS FOR GOVERMENT ACP PROJECTS

The

Government

is providing separately cash-flows Airport and Government-funded

for the Airport Rail, the projects.

2.

The cash-flowS for

projects is attached. They

one at

Government ACF

construction

are provided in two versions:

constant 1991 prices, and the other in money of the day. The means of converting from on to the other is explained.

3.

No cash-flow is provided for the Western Harbour Crossing. The Government does not know at this point how the successful consortium would proceed with the works and what their funding arrangements would be.

4.

The Hong Kong Government will brief the Airport Consultative Committee on the money of the day cash flows shortly. The Chinese Side is requested to treat this information in confidence until that time.

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