WEDNESDAY, MARCH 2, 1977
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MAJOR INVESTMENT IMPLICATIONS OF
TRANSPORT STUDIES
******
THE FINANCIAL SECRETARY, THE HON, PHILIP HADDON-CAVE, TOLD LEGISLATIVE COUNCIL TODAY THAT THERE WERE TWO TRANSPORT STUDIES WHICH HAD +MAJOR IMPLICATIONS FOR PUBLIC INVESTMENT+ OVER THE NEXT FEW YEARS.
PRESENTING HIS BUDGET FOR 1977/78, MR. HADDON-CAVE SAID THE FIRST WAS THE COMPREHENSIVE TRANSPORT STUDY,
COMPLETED AT A COST OF $10 MILLION LAST NOVEMBER AND DESIGNED TO FORECAST THE FUTURE DEMAND FOR, AND SUPPLY OF, TRANSPORT FACILITIES FOR BOTH PASSENGERS AND FREIGHT OVER THE
NEXT 15 YEARS.
A WHITE PAPER ON TRANSPORT POLICY IS NOW BEING DRAFTED IN THE LIGHT OF THE CONSULTANTS' FINDINGS.
THE FINANCIAL SECRETARY INDICATED THAT THE IMPLICATIONS FOR CAPITAL EXPENDITURE COULD BE OF THE ORDER OF $12,000 MILLION.
THE SECOND STUDY, WHICH IS ABOUT TO START, CONCERNS THE LONG TERM FUTURE OF THE KOWLOON-CANTON RAILWAY.
MEANWHILE, MR. HADDON-CAVE SAID, THE FACILITIES ON THE EXISTING RAILWAY WERE BEING IMPROVED. TO FACILITATE DOUBLE TRACKING, THE ENTIRE TRACK WILL BE REBALLASTED IN STAGES, AND CONSTRUCTION OF A NEW TUNNEL THROUGH BEACON HILL WILL BEGIN IN 1977/78.
AT THE SAME TIME, WORK ON, THE KOWLOON-CANTON RAILWAY AND MASS TRANS IT RAILWAY INTERCHANGE STATION AT KOWLOON TONG IS IN AN ADVANCED STAGE OF PLANNING.
THE
REFERRING TO THE HIGHWAYS CONSTRUCTION PROGRAMME FINANCIAL SECRETARY SAID IT WOULD REGAIN MOMENTUM IN THE COMING FINANCIAL YEAR, WITH CONTRACTS ON A NUMBER OF MAJOR PROJECTS HAVING BEEN LET IN 1976/77.
EXPENDITURE IS ESTIMATED TO BE $255 MILLION IN 1977/78 COMPARED WITH THE REVISED ESTIMATE FOR 1976/77 OF $215 MILLION, AND WILL RISE TO $460 MILLION IN 1980/81.
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