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WEDNESDAY, NOVEMBER 23, 1983
INDUSTRIAL ESTATES CORPORATION MAKES PROGRESS
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THE INDUSTRIAL ESTATES CORPORATION ACHIEVED SOME PROGRESS IN THE LAST FINANCIAL YEAR DESPITE ADVERSE INVESTMENT AND RE INVESTMENT CLIMATE COMMON TO ALL MAJOR MARKET ECONOMIES, THE HON WONG PO-YAN SAID TODAY (WEDNESDAY),
MR WONG, A MEMBER OF THE BOARD OF THE CORPORATION, WAS MAKING A STATEMENT ON THE ANNUAL REPORT OF THE CORPORATION FOR THE YEAR ENDED MARCH 31, 1983 IN THE LEGISLATIVE COUNCIL.
+THERE ARE NOW 38 COMPANIES AT TAI PO AND ONE AT YUEN LONG. OF THESE, 21 HAVE COMMENCED MANUFACTURING. THESE 39 COMPANIES REPRESENT A TOTAL INVESTMENT OF HK$1 300 MILLION IN LAND, BUILDING, EQUIPMENT AND MACHINERY, HE SAID.
ON THE DEVELOPMENT OF THE TAI PO INDUSTRIAL ESTATE, MR WONG SAID THAT THE STANDARD FACTORY BLOCK ALREADY COMPLETED WOULD SOON BE LEASED TO A LOCAL MANUFACTURER AND DEVELOPMENT OF THE THIRD STAGE AT THE ESTATE WAS PROGRESSING SATISFACTORILY.
HE SAID THAT DURING THE YEAR, FOUR MORE COMPANIES WERE GRANTED SITES - THOMAS DE LA RUE HONG KONG) LTD, HONG KONG OXYGEN AND ACETYLENE CO LTD, THE WING ON FOODS CO LTD AND BUILDERS FEDERAL (HONG KONG) LTD,
+WITH THE ADDITIONS OF THESE COMPANIES, THE LIST OF PRODUCTS TO BE MANUFACTURED ON THE ESTATE WOULD BE BROADENED TO INCLUDE BANKNOTES AND OTHER TYPES OF SECURITY DOCUMENTS, HIGH PURITY GASES, FOOD PROCESSING AND PACKAGING, AND STEEL AND ALUMINIUM CURTAIN WALLING,+ HE SAID.
IN ADDITION, THREE COMPANIES STARTED PRODUCTION AT THE TAI PO ESTATE, NAMELY, DAIDO CONCRETE (HONG KONG) LTD, BBC BROWN BOVER! LTD AND THE WINNER FOOD PRODUCTS LTD.
MR WONG SAID, THESE THREE SUCCESSFULLY COMPLETED PROJECTS ARE GOOD ILLUSTRATIONS OF THE CONFIDENCE SHARED BY LOCAL AND OVERSEAS INVESTORS IN THE FUTURE OF HONG KONG.
+JAPANESE, SWISS AND UNITED STATES INTERESTS ARE REPRESENTED IN THESE BUSINESS VENTURES RESPECTIVELY, AND THEY ARE SOLID EVIDENCE THAT SUPPORT THE FACT THAT HONG KONG HAS NOT FAILED TO ATTRACT OVERSEAS INVESTMENT EVEN DURING DIFFICULT TIMES.+
→FURTHERMORE, IN TESTIMONY TO THE FAVOURABLE INFRASTRUCTURE PROVIDED BY THE ESTATE, DAIDO CONCRETE HAS APPLIED AND SUBSEQUENTLY BEEN GRANTED A SECOND SITE IN SEPTEMBER 1983 FOR THE EXPANSION OF THEIR OPERATION, AND CARLSBERG BREWERY HK LTD CELEBRATED THE EXPANSION OF THEIR BREWERY AT TAI PO IN OCTOBER 1983 WITH AN ADDITIONAL INVESTMENT OF $20 MILLION TO INCREASE PRODUCTION BY
PER CENT, MR WONG SAID.
TURNING TO THE YUEN LONG INDUSTRIAL ESTATE, MR WONG POINTED OUT THAT ALTHOUGH CONSTRUCTION WORK HAD PROGRESSED MORE SLOWLY THAN PLANNED, THE ESTATE WAS DUE FOR COMPLETION BY THE END OF 1983.
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