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THURSDAY, OCTOBER 31, 1974
NEW PLANT WILL BOOST SUPPLIES TO PLASTICS INDUSTRY
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AN ASSURED SUPPLY OF BASIC RAW MATERIALS FOR HONG KONG'S THIRD LARGEST EXPORT EARNER THE PLASTICS INDUSTRY IS EXPECTED TO COME ON STREAM IN WELL UNDER 18 MONTHS
TIME..
THIS WILL BE MADE POSSIBLE BY THE CONSTRUCTION OF A MULTI- MILLION DOLLAR POLYSTYRENE MANUFACTURING PLANT ON TSING YI ISLAND.
THE PROJECT, FOR WHICH SITE FORMATION WORK IS NOW IN PROGRESS, IS BEING UNDERTAKEN BY THE WORLD-WIDE DOW CHEMICAL COMPANY WHOSE CHAIRMAN, MR. CARL A. GERSTACKER, IS COMING TO HONG KONG FOR A BUSINESS VISIT.
SUBJECT TO WEATHER CONDITIONS, HE WILL BE LOOKING OVER THE SITE FOR THE NEW PLANT TOMORROW AFTERNOON (FRIDAY, NOVEMBER 1) ACCOMPANIED BY MR. JIMMY MCGREGOR, DEPUTY DIRECTOR OF COMMERCE AND INDUSTRY, AND MR. R.K. LUNDEEŃ, CHAIRMAN OF DOW CHEMICAL (HONG KONG) LTD.
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THE COST OF THE PROJECT IS ESTIMATED AT $160 MILLION. IT IS PLANNED TO HAVE THE PLANT READY FOR OPERATION BY THE END OF NEXT YEAR OR EARLY IN 1976.
THE SITE FOR THE PLANT WAS OBTAINED UNDER THE GOVERNMENT'S MODIFIED LAND POLICY WHICH IS DESIGNED TO ATTRACT TECHNOLOGICALLY- ADVANCED INDUSTRIES TO HONG KONG,
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NOTE TO EDITORS:
YOU ARE INVITED TO SEND A REPORTER AND PHOTOGRAPHER, TO-COVER TOMORROW'S SITE VISIT. A LAUNCH WILL BE LEAVING QUEEN'S PIER AT 3.15 P.M. SHARP, AND RESERVATIONS SHOULD BE MADE BY CONTACTING THE G.1.S. PRESS ENQUIRY DESK NO LATER THAN 12 NOON TOMORROW. YOU ARE ADVISED THAT ROAD ACCESS TO TSING YI IS NOT AVAILABLE AS THE CONNECTING BRIDGE IS FOR COMMERCIAL USERS ONLY.
MR. GERSTACKER AND MR. MCGREGOR WILL BE AVAILABLE AT THE SITE TO ANSWER PRESS QUESTIONS. IF WEATHER CONDITIONS DO NOT IMPROVE IT WILL DE NECESSARY TO CANCEL THE VISIT AT SHORT NOTICE, BUT ALTERNATIVE ARRANGEMENTS WILL BE MADE FOR A MEETING WITH THE PRESS.
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