DNESDAY, CCTOBER 18, 1978
THE CORPORATION RECOGNISED THAT CONFIDENCE COULD BE INSPIRED BY SECURING WELL-KNOWN COMPANIES WITH GOOD FINANCIAL, TECHNOLOGICAL AND STAFF WELFARE RECORDS AND HAD ACCORDINGLY DIRECTED ITS EFFORTS THERE. IT ALSO REALISED THAT ONCE THE FIRST FEW FACTORIES WERE OPERATING SUCCESSFULLY THE PROBLEM OF ATTRACTION WOULD BE DIMINISHED.
MR. LI WAS HAPPY TO REPORT THAT, IN CONTRAST TO HIS REMARKS IN THE COUNCIL IN JANUARY CONCERNING THE LEVEL AND QUALITY OF APPLICANTS, PARTICULARLY THOSE FROM OVERSEAS, THE PRESENT LEVEL WAS + INDEED MOST ENCOURAGING+.
*ITH ABOUT TWO-THIRDS OF THE LAND FORMED AT PRESENT ALREADY COMMITTED OR ALLOCATED TO APPROVED APPLICANTS, THE PRESSURE ON THE CORPORATION TO EXPEDITE PRODUCTION OF LAND WAS VERY REAL.
IT WOULD SEEK TO OBTAIN GOVERNMENT APPROVAL FOR FUTURE ESTATES AS A MATTER OF PRIORITY.
+ IT IS HOPED THAT DURING THE THREE-YEAR PERIOD TO 1981, WORK WILL HAVE STARTED ON THE THIRD STAGE AT TAI PO AND ON NEW ESTATES AS YET UNIDENTIFIED IN OTHER PARTS OF THE TERRITORY TO ENSURE A CONTINUING FLOW OF FORMED LAND FOR THE GROWING NUMBER OF
INDUSTRIAL ISTS WHO ARE SHOWING AN INCREASING INTEREST IN INVESTING IN THE INDUSTRIAL ESTATES IN HONG KONG, HE SAID.
HE ESTIMATED THAT IN THE NEXT THREE YEARS, THE CURRENT PROGRAMME OF LAND FORMATION WILL PROVIDE 102 HECTARES (10.98 MILLION SQ. FT.) OF NETT ACTUAL SITES WHICH, ALONG WITH THE SITES ALREADY FORMED AT TAI PO, WILL PROVIDE A TOTAL AVAILABLE NETT AREA OF 117 HECTARES (12.59 MILLION SQ. FT.).
THE TOTAL NUMBER OF FACTORY SITES TO BE AVAILABLE WILL LIKELY BE BETWEEN 250 AND 300, WITH TOTAL INVESTMENT ESTIMATED AT $4 BILLION AND AN ANNUAL PRODUCTION VALUE IN EXCESS OF $6 BILLION.
AT TAI PO THE CORPORATION HAD FORMED AN AREA OF 21 HECTARES (2.26 MILLION SQ. FT.) PROVIDING 15 HECTARES (1.61 MILLION SQ. FT.) OF INDUSTRIAL SITES.
RECLAMATION WORK IS PROCEEDING WITH THE SECOND STAGE OF
THE DEVELOPMENT WHICH WILL BECOME PROGRESSIVELY AVAILABLE THROUGH TO COMPLETION IN NOVEMBER 1980,
ON COMPLETION THE ESTATE WILL COVER A GROSS AREA OF 69 HECTARES (7.43 MILLION SQ. FT.) OF WHICH, AFTER PROVISION FOR THE INFRASTRUCTURE, SOME 45 HECTARES (4.84 MILLION SQ. FT.) WILL BE AVAILABLE FOR FACTORY SITES.
WORK IS EXPECTED TO START AT THE SITE OF THE SECOND ESTATE IN YUEN LONG AT THE END OF THIS YEAR, AND FORMED LAND WILL BECOME AVAILABLE PROGRESSIVELY FROM THE SECOND HALF OF 1979 THROUGH TO COMPLETION IN NOVEMBER 1981.
THIS SECOND ESTATE WILL COVER A TOTAL AREA OF 98 HECTARES (10.55 MILLION SQ. FT.) WITH ABOUT 72 HECTARES (7.75 MILLION SQ. FT.) FOR FACTORY DEVELOPMENT,
J