FRIDAY, AUGUST 27, 1976
$250 MILLION DOCKYARD FOR TSING YI ISLAND
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THE GOVERNOR-IN-COUNCIL HAS APPROVED A PRIVATE TREATY GRANT OF ABOUT 50 ACRES ON THE WEST COAST OF TSING YI ISLAND FOR THE HONG KONG UNITED DOCKYARD LTD. TO BUILD A $250 MILLION SHIPYARD.
ANNOUNCING THIS TODAY, A SPOKESMAN FOR THE NEW TERRITORIES ADMINISTRATION SAID THE COMPANY PLANNED TO PHASE IN THE TSING YI DEVELOPMENT TO REPLACE ITS PRESENT OPERATIONS AT TAIKOO DOCKYARD AND, EVENTUALLY, ITS FACILITIES AT HUNG HOM.
HE SAID THE GRANT OF LAND HAD BEEN APPROVED ON CONDITION THAT THE COMPANY RESTRICTS ITSELF TO SHIPBUILDING, SHIP REPAIRING AND ANCILLARY SERVICES AND SUCH HEAVY AND INDUSTRIAL ENGINEERING AS MAY BE APPROVED BY THE SECRETARY FOR THE NEW TERRITORIES.
THE GRANT ALSO CARRIES A BUILDING COVENANT THAT THE COMPANY MUST SPEND $90 MILLION ON DOCKYARD PLANT, INSTALLATIONS AND BUILDINGS WITHIN 10 YEARS OF BEING GIVEN POSSESSION OF THE SITE.
THE SPOKESMAN SAID THE COMPANY HOPED TO HAVE LIMITED FACILITIES IN OPERATION AT TSING YI BY 1978 AND THE FIRST PHASE OF THE PROJECT COMPLETED BY 1980.
HE ADDED: +THIS IS A MAJOR DEVELOPMENT ON TSING YI ISLAND AND SHOULD BE A BOOST FOR SHIP REPAIRING INDUSTRY IN PROVIDING EXCELLENT FACILITIES FOR THE LARGER VESSELS NOW BEING USED IN WORLD TRADE.
+TSING YI IS MUCH BETTER LOCATED FOR SUCH ACTIVITIES THAN THE CENTRAL HARBOUR AREA BECAUSE IT IS SITUATED ON THE WESTERN APPROACH TO HONG KONG HARBOUR AND CLOSE TO THE KWAI CHUNG CONTAINER TERMINAL.
+FURTHERMORE, THE USE OF THE AREA IS NOT IN CONFLICT WITH FURTHER DEVELOPMENT NOR WILL IT COMPETE FOR ALTERNATIVE URBAN USE. IN FACT IT FITS IN WITH THE HEAVY INDUSTRIAL DEVELOPMENT THAT IS TRANSFORMING TSING YI INTO A MAJOR INDUSTRIAL AREA.+
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