WEDNESDAY, APRIL 25, 1990
15
PADS PROJECTS WITHIN HK'S MEANS: SES
THE
FINANCIAL STRATEGY PROJECTS
THE GOVERNMENT HAS MADE A CAREFUL ANALYSIS OF AND ECONOMIC VIABILITY OF THE PORT AND AIRPORT DEVELOPMENT (PADS) AND IT IS SATISFIED THAT THE VARIOUS COMPONENT OF PADS ARE WITHIN ITS MEANS.
THE SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, SAID THIS TODAY (WEDNESDAY) WHEN SHE OFFICIATED AT THE OPENING OF THE "NEW HONG KONG AIRPORT AND PORT DEVELOPMENT" CONFERENCE.
"BEFORE FORMULATING THE STRATEGY, YEARS OF DETAILED TAKEN PLACE TO ENSURE THAT THE STRATEGY PROVIDED THE BEST TERMS OF OVERALL DEVELOPMENT AND WAS THE MOST VIABLE BOTH AND COMMERCIALLY," SHE SAID.
STUDY HAD OPTION IN FINANCIALLY
ELEMENTS FOR
SHE POINTED OUT THAT AS A PACKAGE, THE VARIOUS THE PORT AND AIRPORT DEVELOPMENT WOULD ENSURE THAT HONG KONG RETAINS AND ENHANCES ITS POSITION AS ONE OF THE MAJOR SEA AND AIR TRANSPORT HUBS IN THE REGION.
FOR
"THESE INFRASTRUCTURAL DEVELOPMENTS ARE ESSENTIAL NOT ONLY HONG KONG'S ECONOMIC WELL BEING BUT ALSO FOR CHINA'S, PARTICULARLY SOUTHERN CHINA,' SHE STRESSED.
MRS CHAN SAID SINCE THE COMPLETION OF THE VARIOUS STUDIES, THE GOVERNMENT HAD TAKEN MATTERS FORWARD IN AN EVER EVOLVING SITUATION.
IF
"WE ARE REFINING AND REVISING INITIAL RECOMMENDATIONS PUT TO US BY OUR CONSULTANTS, SHE SAID, ADDING THAT IN THE COMING FEW MONTHS THE GOVERNMENT WOULD BE SHARPENING THE ESTIMATES OF COSTS FOR MANY PROJECTS INVOLVED IN THE LIGHT OF PREVAILING COSTS, UPDATED PLANNING REQUIREMENTS, ESTIMATES OF DEMAND FORECASTS AND PROJECTED REVENUE STREAMS.
"THE ORIGINAL BROAD ORDER OF COSTS QUOTED BY OUR CONSULTANTS ARE LIKELY TO REQUIRE REVISION BUT THIS IS NOTHING UNUSUAL IN STRATEGIC STUDIES OF THE TYPE INVOLVED,' SHE SAID.
++
ON THE GOVERNMENT'S THINKING ON THE FINANCING OF THE PROJECTS, MRS CHAN SAID THAT IN CARRYING OUT THE PLANS, THE GOVERNMENT HAD NO INTENTION OF RUNNING DOWN HONG KONG'S RESERVES TO AN UNACCEPTABLE DEGREE.
VERY
"RATHER WE EXPECT ΤΟ ATTRACT PARTICIPATION IN THE PROJECTS BOTH IN THE FORM OF FROM THE INTERNATIONAL MARKETS.
SIZEABLE PRIVATE LOANS AND EQUITY
"CHINA'S SUPPORT WILL NATURALLY ALSO HELP TO LAUNCH THEM SUCCESSFULLY AND TO BUILD A SECURE ECONOMIC FOUNDATION FOR THE FUTURE SPECIAL ADMINISTRATIVE REGION,' MRS CHAN ADDED.
H
/"ALTHOUGH IT