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MTRC Plans US Bonds Issue
The Mass Transit Railway Corp (MTRC) is planning to issue its first US dollar bonds in the US to help finance the building of railway extensions to proposed new airport on Chek Kap Kok. The MTRC will approach major centres abroad, to raise funds for the proposed railway project, the estimated cost of which has increased by more than 45 per cent, to US$2.8 billion (HK$22 billion), after design modifications.
HK$1.5 Million For Urban Taxi Licence
The cost of an urban taxi licence in Hong Kong has jumped to HK$1.5 million (US$192,000) in the latest tender round for 200 new licences. The price is 66 per cent higher than the last issue 13 months ago. There were nearly 400 applicants for the licences with the accepted tender premiums ranging from HK$1.51 million to HK$1.532 million.
CT9 For Tsing Yi
Container Terminal 9, the last expansion project for the port of Hong Kong, is to be constructed on Tsing Yi Island. Based on the current trend in container growth, terminal no. 8, being developed at a cost of some HK$7 billion (US$900 million), should be ready in the summer of 1993, with terminal no. 9 being required two years later in 1995.
Bechtel Retains Airport Consultancy
International
American-based,
Bechtel Incorporated, is to continue as project management consultants for Hong Kong's new airport and related infrastructure projects after signing a new agreement with the government. Under the HK$195 million (US$25 million) phase II consultancy, International Bechtel will provide professional services in relation to monitoring costs
costs and programming and technical support on all airport core projects (ACP).
US Merchant Bank Wins Airport Contract
American merchant bank, JP Morgan, has been appointed financial adviser to the Provisional Airport Authority (PAA). The bank will help the PAA, which will build and operate the airport at Chek Lap Kok, to develop its financing plan and work to attract commercial funding for the project.