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GOVERNOR TO VISIT PEKING AND TIANJIN
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A GOVERNMENT SPOKESMAN ANNOUNCED TODAY (TUESDAY) THAT THE GOVERNOR WILL VISIT PEKING AND TIANJIN FROM JANUARY 21 TO 25.
HE WILL HAVE DISCUSSIONS IN PEKING ON A RANCE OF CURRENT ISSUES WITH SENIOR CHINESE OFFICIALS DEALING WITH HONG KONG AFFAIRS.
OFF OFFICIALS AND BE
SENIOR MUNICIPAL
IN TIANJIN, HE WILL MEET BRIEFED ON TIANJIN'S ECONOMIC DEVELOPMENT PLANS.
LADY
THE GOVERNOR WILL BE ACCOMPANIED ON HIS VISIT BY THE POLITICAL ADVISER, MR WILLIAM EHRMAN, AND HIS PRIVATE MR RICHARD HOARE.
WILSON, SECRETARY,
FINANCIAL ASPECTS OF NEW AIRPORT AND RELATED PROJECTS
THE TOTAL COST FOR THE KEY PROJECTS NECESSARY TO OPEN THE FIRST RUNWAY OF CHEK LAP KOK AIRPORT IN 1997 IS ESTIMATED TO BE OF THE ORDER. OF $79 BILLION AT 1990 PRICES, THE GOVERNMENT ANNOUNCED TODAY (TUESDAY).
SOME OF THE PROJECTS, FOR EXAMPLE, THE WEST KOWLOON RECLAMATION EXPRESSWAY, AND THE WESTERN HARBOUR CROSSING, ARE REQUIRED EVEN WITHOUT THE AIRPORT.
AND
SECTOR.
A SIGNIFICANT PART OF THIS IS EXPECTED TO BE MET BY THE PRIVATE
THE COSTS WILL ALSO BE OFFSET BY CONSIDERABLE REVENUE ARISING FROM THE AIRPORT PROJECTS. THIS INCLUDES POTENTIAL REVENUE, AT 1990 PRICES, OF NEARLY $40 BILLION FROM LAND SALES AT EAST KOWLOON UPON THE CLOSURE OF KAI TAK AIRPORT, SALES OF LAND FORMED BY RECLAMATION AT WEST KOWLOON AND NORTH LANTAU ALONG THE APPROACHES TO THE REPLACEMENT AIRPORT.
DETAILS OF THE GOVERNMENT'S FINANCIAL APPROACH WERE MADE KNOWN TODAY TO MEMBERS OF THE LEGCO AD HOC GROUP ON PADS.
"WHEN COMPLETED, THE INVESTMENT IN THE AIRPORT AND RELATED FACILITIES WILL BRING TO HONG KONG LONG-TERM ECONOMIC
AND FINANCIAL BENEFITS FAR GREATER THAN THE COST OF THE INVESTMENT, AND THESE BENEFITS WILL BE ENJOYED WELL INTO THE NEXT CENTURY, THE SPOKESMAN SAID.
COMMENTING ON THE NEW FIGURE OF $79 BILLION AT 1990 PRICES, THE SPOKESMAN EXPLAINED THAT WHEN THE GOVERNOR ANNOUNCED AT THE OPENING OF THE 1989-90 LEGISLATIVE COUNCIL SESSION THE DECISION TO PROCEED WITH THE AIRPORT, IT WAS IN THE CONTEXT OF A BROAD STRATEGY FOR BOTH PORT
AIRPORT EXPANSION GOING WELL INTO THE NEXT CENTURY.
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/THE TOTAL