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THURSDAY, DECEMBER 5, 1985
CONSORTIUM FOR EASTERN HARBOUR CROSSING ANNOUNCED
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THE SECRETARY FOR TRANSPORT, MR IAN MACPHERSON, TODAY ANNOUNCED THAT GOVERNMENT HAD ACCEPTED AN OFFER FROM NEW HONG KONG TUNNEL CO. LTD. TO FINANCE, BUILD AND OPERATE THE EASTERN HARBOUR CROSSING. THIS WILL BE A JOINT ROAD AND MASS TRANSIT RAILWAY FACILITY RUNNING FROM QUARRY BAY TO CHA KWO LING, EAST KOWLOON.
THE MAIN INVESTORS IN THE NEW HONG KONG TUNNEL CO. LTD.
PAUL ARE KUMAGAI GUMI CO. LTD., LILLEY CONSTRUCTION CO. LTD., Y. CONSTRUCTION CO. LTD. AND CHINA INTERNATIONAL TRUST AND INVESTMENT CORPORATION.
MR MACPHERSON SAID THAT THE ACCEPTANCE OF THE OFFER WAS CONDITIONAL ONLY UPON LEGISLATIVE COUNCIL ENACTING THE EASTERN HARBOUR CROSSING ORDINANCE WHICH WOULD GIVE THE NECESSARY STATUTORY AUTHORITY TO THE FRANCHISES. HE SAID THE NEW ORDINANCE WOULD BE BROADLY SIMILAR TO THE EXISTING CROSS HARBOUR TUNNEL ORDINANCE.
MR MACPHERSON SAID THERE WOULD BE TWO SEPARATE FRANCHISES: ONE FOR THE ROAD OF 30 YEARS AND ONE FOR THE RAIL PORTION OF 22 YEARS, UNDER WHICH THE MASS TRANSIT RAILWAY CORPORATION WILL OPERATE THE RAIL TUNNEL, INCLUDING ALL ROLLING STOCK.
THE PROJECT IS EXPECTED TO COMMENCE IN EARLY 1986 AND BE COMPLETED IN LATE 1989. AT THE OPENING OF THE ROAD CROSSING, THE TOLL FOR PRIVATE CARS AND TAXIS WILL BE $10. IT HAS BEEN AGREED THAT THERE WOULD BE NO PASSAGE TAX ON THE NEW ROAD TUNNEL FOR AT LEAST FIVE YEARS.
THE RAIL CROSSING WILL BE AN EXTENSION OF THE KWUN TONG LINE FROM KWUN TONG STATION TO QUARRY BAY AND THE FORECAST NET INCREMENTAL REVENUE ARISING WILL MORE THAN COVER THE COST OF THE PAYMENTS.
MR MACPHERSON SAID THAT THE NEGOTIATIONS WITH A SHORT LIST OF THREE CONSORTIA HAD TAKEN EIGHT MONTHS AND THAT THE FINAL PACKAGE WAS BENEFICIAL BOTH TO MOTORISTS AND THE MASS TRANSIT RAILWAY CORPORATION.
THE PRIME CONCERN OF GOVERNMENT IN THE EXERCISE HAD BEEN
HE SAID ALL TO MAXIMISE THE BENEFIT TO THE TRAVELLING PUBLIC. THE SHORTLISTED PROPOSALS WERE OF A VERY HIGH STANDARD AND THAT IT HAD BEEN A CLOSE DECISION.
THE PROJECT EXPRESSED IN A VERY TANGIBLE FORM LONG TERM INVESTOR CONFIDENCE IN HONG KONG'S FUTURE.
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