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Thursday, January 10, 1974
NEW SALE OF LAND TO PROMOTE INDUSTRIAL DEVELOPMENT
A
An additional five-acre site on Tsing Yi Island is to be sold
by the government to the Outboard Marine Corporation for the construction
of an expanded outboard engine maunfacturing plant.
The new piece of land adjoins the five-acre site which the company
bought by restricted tender last April.
A Commerce and Industry Department spokesman said today that the
O.M.C. project will introduce new technology to Hong Kong and a wide range
of training in technical skills for workers.
he said.
"A high proportion of the O.M.C. workforce will be male workers,"
The company's project on the 10-acre site involves an estimated
total investment of $100 million. This is nearly double the original
investment envisaged.
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It is anticipated that the expanded production plant will employ
1,000 workers, twice the number which development on a five-acre site would
have permitted.
The value of Hong Kong content in the engines maunfactured will rise
from an originally estimated $17 million annually to a new figure of $50
million.
This results from a greater production of high technology components
and parts.
The spokesman