THE AIRPORT CORE PROGRAMME
in the form of direct funding of government works projects ($50.7 billion) and through equity injection ($60.3 billion) into the AA and the MTRC.
The British and Chinese sides of the Airport Committee agreed on June 30, 1995, that the Hong Kong Government could enter into Financial Support Agreements (FSAs) for the new airport and the Airport Railway with the AA and the MTRC. These agreements provide the government assurances needed to enable the two statutory bodies to launch their borrowing programmes in a cost-effective manner and press ahead with the projects. The agreements with the MTRC and the AA were then signed on July 5 and December 1, 1995, respectively.
Benefits for the Community
The main benefits for the community, in addition to the airport itself, will come from improved road and rail facilities, which will ease congestion in the West Kowloon and Kwai Tsing areas, besides opening up North Lantau. The closure of the existing airport at Kai Tak will also provide substantial environmental benefits for the 380 000 residents living under its flight path, who will escape the noise of aircraft, and make available additional land for residential and commercial developments in Kowloon.
The projects will also provide further local job and business opportunities. The projects have already generated more than 28 000 job opportunities for local workers during the construction period. It is estimated that the new airport and the Airport Railway alone upon opening will create around 15 000 new jobs.
The New Airport at Chek Lap Kok
Good progress continued to be made on all fronts
construction, commercial, retail and real estate developments, and planning arrangements for the airport's opening in April 1998.
Construction
The bulk of the civil works, and the construction of the first, or southern runway, taxiways and aprons were substantially completed over the past year. In March, British Prime Minister John Major visited the airport island to start the permanent asphalting works for the 3 800-metre southern runway.
The contractors for the passenger terminal building also made good progress. By the end of 1996 the concrete structure and the roof's steelwork were completed. Fit- out works within the building were under way.
Good progress was also made with the terminal's electrical and mechanical services. In the baggage handling hall alone, more than 22 kilometres of conveyors had been installed. The contractors for the terminal's automated people mover also completed the preliminary installation work for the driverless shuttle-train system that will be capable of transporting some 5 200 passengers an hour to the aircraft gates.
On the southern side of the airport island, construction of essential private sector works for major airport support services moved ahead rapidly. These include the terminals of the two air cargo operators, the aviation fuel supply system, and three aircraft catering facilities.
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