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"The keen international competition has also helped to drive down the cost of the ACP and to ensure that Hong Kong is getting the best value for money in its tenders," he said.
So far, 101 major construction contracts worth over $64 billion had been awarded, all within cost estimates, under the $158.2 billion programme by the Government, the Provisional Airport Authority, the Mass Transit Railway Corporation and the Western Harbour Tunnel Company Limited.
"These contracts have participants from countries worldwide. Taking the lead are companies from Japan (26 per cent by value), followed by Hong Kong (21 per cent), the United Kingdom (13 per cent), the Netherlands (8 per cent), China (7 per cent), France (7 per cent) and Belgium (5 per cent).
"Companies from Spain, Germany. Italy, Austria, United States, Australia, New Zealand and South Africa have also been awarded contracts,' said Mr Lam.
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"We will continue to keep up our efforts in maintaining a stringent monitoring of both the progress and cost of the ACP," he added.
Outlining construction progress, Mr Lam said works on the transport network which would link the new airport to the urban areas were progressing well.
The contract for building the 2.2-kilometre Tsing Ma Bridge, one of the two bridges which form the Lantau Fixed Crossing connecting north Lantau to Tsing Yi, is already 65 per cent completed, only 31 months into the five-year contract.
On completion of the two 206-metre high towers, work started in June to build two catwalks between Tsing Yi and Ma Wan for the aerial spinning of the suspension cables.
Spinning of the cables, which will measure 1.1 metres in diameter, began two months later and work is on target for completion in April next year.
The first steel deck section, weighing 1,400 tonnes, was erected on the Tsing Yi side span in October.