WEDNESDAY, MAY 23, 1990
1.3
PADS PROJECTS OFFER EXCITING OPPORTUNITIES
*
THE PORT AND AIRPORT PROJECTS OFFER EXCITING OPPORTUNITIES FOR PARTICIPATION BY FIRMS FROM ALL OVER THE WORLD IN CONSTRUCTION, FINANCING AND PROVISION OF SERVICES,
SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, SAID.
THE
SPEAKING AT A SEMINAR ORGANISED BY THE UNITED STATES CHAMBER OF COMMERCE IN WASHINGTON TODAY (WEDNESDAY), MRS CHAN GAVE AN OVERVIEW OF POLITICAL, ECONOMIC AND SOCIAL BACKGROUND AGAINST WHICH THE PORT AND AIRPORT DEVELOPMENT STRATEGY (PADS) HAD BEEN DRAWN UP.
SHE SAID THAT MANY ELEMENTS OF THE PROJECTS WOULD BE ATTRACTIVE TO THE PRIVATE INVESTOR AND THE HONG
HAD BEEN KONG GOVERNMENT ENCOURAGED BY THE INTEREST SHOWN TO DATE.
"THE AIRPORT RAILWAY, THE MAJOR BRIDGE AND TUNNEL LINKS, TENANT A FACILITIES AT THE AIRPORT AND NEW PORT FACILITIES WOULD ALL INVOLVE HIGH LEVEL OF PRIVATE SECTOR PARTICIPATION, SHE NOTED.
Ir
IN.
"ON THE
THAT FINANCING OF THE PADS PROJECTS, WE BELIEVED BROAD TERMS AS MUCH AS 60 PER CENT OF IT COULD BE BORNE BY THE PRIVATE SECTOR," SHE SAID.
SHE
WERE TERRITORY
POINTED OUT THAT HONG KONG'S PLANS FOR FUTURE GROWTH NECESSARILY ON A GRAND SCALE SINCE HONG KONG WAS ALREADY A OF SOME SIGNIFICANCE IN TERM OF THE WORLD'S ECONOMY.
THE NEW
OF
THE MAJOR
INFRASTURCTURE TO BE INTRODUCED IN THE PADS AND
WERE HONG KONG'S TARGETS FOR TERTIARY EDUCATION UPGRADING
FOR INVESTMENTS
THE FUTURE AND THEY WERE NOT PIPE DREAMS OR GRAND POLITICAL GESTURES, MRS CHAN SAID.
IN
THEY ARE "THEY ARE DECISIONS BASED ON COOL HEADED ECONOMICS. ESSENTIAL IF HONG KONG IS TO REMAIN THE HUB OF ECONOMIC ACTIVITIES THE REGION," SHE ADDED.
UPDATING PROGRESS OF THE AIRPORT PROJECT, MRS CHAN
LAP KOK AIRPORT MASTER PLAN CONSULTANCY THE CHEK COMMENCE IN A FEW WEEKS' TIME.
WAS
SAID THAT ΤΟ SCHEDULED
"IT
MASTER WILL INVOLVE THE PREPARATION OF THE AIRPORT
ENGINEERING CIVIL
FOR DESIGN WORKS
RECLAMATION DETAILED
THE
SHE SAID. SURROUNDING SEAWALL AND AN ENVIRONMENTAL IMPACT STUDY,"
PLAN, AND
"WE
ARE ESTABLISHING
WILL BE AN AIRPORT AUTHORITY WHICH STATUTORY
THE LEGISLATION CORPORATION.
ESTABLISHING A PROVISIONAL MRS CHAN SAID. AUTHORITY WAS PASSED IN APRIL THIS YEAR,
A
**
THE AUTHORITY
GOVERNMENT
OWNED AND,
PER CENT GOVERNMENT
AT WOULD,
LEAST INITIALLY BE 100
AN IN ADDITION TO
INJECTION OF EQUITY, WOULD BE FINANCED BY LOANS RAISED IN THE INTERNATIONAL MARKET, SHE ADDED.
/ON THE