WEDNESDAY, NOVEMBER 24, 1982
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$1.3 BILLION INVESTMENT IN INDUSTRIAL ESTATES
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THE 36 COMPANIES APPROVED TO OPERATE AT THE TAI PO AND YUEN LONG INDUSTRIAL ESTATES WILL INVEST A TOTAL OF $1.3 BILLION, THE HON WONG PO-YAN SAID AT THE LEGISLATIVE COUNCIL MEETING TODAY.
THIRTY PER CENT OF THIS INVESTMENT IN LAND, BUILDING EQUIPMENT AND MACHINERY IS FROM OVERSEAS INVESTORS AND THE REMAINDER FROM LOCAL INDUSTRIALISTS, MR WONG WHO IS ALSO A BOARD MEMBER, SAID IN TABLING THE 1982 ANNUAL REPORT OF THE HONG KONG INDUSTRIAL ESTATES CORPORATION.
THE COMPANIES REPRESENT A WIDE RANGE OF PRODUCTS USING UP-TO-DATE TECHNOLOGY, WHICH WILL CONTRIBUTE TO THE ADVANCEMENT OF LOCAL INDUSTRY AND IMPROVE HONG KONG'S EXPORT PERFORMANCE, MR WONG STATED.
THIRTY-FIVE OF THE COMPANIES ARE LOCATED AT THE TAI PO INDUSTRIAL ESTATE, WITH 20 OF THEM ALREADY IN PRODUCTION.
THE GRANTING OF THE FIRST COMPANY AT YUEN LONG +HERALDS AN ADDITIONAL MILESTONE IN THE CORPORATION'S HISTORY+, MR WONG SAID.
HE ALSO DISCLOSED THAT THE CORPORATION IS CURRENTLY PROCESSING APPLICATIONS INVOLVING SUBSTANTIAL INVESTMENT.
THE PERCENTAGE OF APPROVED APPLICATIONS CONTINUED TO RISE FROM 26 PER CENT IN THE FIRST YEAR OF 1977-78 TO 69 PER CENT IN 1981-82, HE REPORTED.
FOLLOWING THE COMPLETION OF THE FIRST STANDARD FACTORY BLOCK AT TAI PO, THE BOARD OF THE CORPORATION DECIDED TO PROCEED WITH THE CONSTRUCTION OF TWO MORE BLOCKS AT TAI PO AND TWO AT YUEN LONG, WITH APPROVED LOANS FROM THE GOVERNMENT DEVELOPMENT LOAN FUND, MR WONG SAID.
THE STANDARD FACTORY UNITS REPRESENT AN IMPORTANT ALTERNATIVE FOR INDUSTRIALISTS WHO MEET THE CORPORATION'S CRITERIA AND WISH TO START MANUFACTURING IMMEDIATELY IN PREMISES WHICH PROVIDE FOR A WIDE RANGE OF MANUFACTURING REQUIREMENTS.
THEY ALSO FURTHER ENHANCE THE CORPORATION'S OBJECTIVE OF BROADENING THE BASE OF HONG KONG INDUSTRY BY PROVIDING A NEW STIMULUS FOR INDUSTRIAL INVESTMENT AND DIVERSIFICATION, MR WONG SAID.
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