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The funding proposal will be discussed at meetings of the LegCo Panel and the Airport Consultative Committee on January 16 (Monday).
The spokesman pointed out that this funding application to the Finance Committee was an essential part of the Government's step-by-step approach on advance funding for the PAA, in line with its commitment under the Memorandum of Understanding.
"The $5,202 million being sought is in addition to the $31,446 million (in money of the day) in advances previously approved by the Finance Committee. If approved, this will bring the total advances to the PAA up to $36,648 million, which is the level of equity funding envisaged for the new airport in the Airport Committee Agreed Minute, signed on November 4, 1994, on overall financing for the new airport and airport railway.
"We intend to convert this sum into government equity in the permanent airport body when it has been established upon enactment of the Airport Bill, and when we have signed the Financial Support Agreement (FSA)," he said.
The spokesman hoped that an early agreement could be reached with the Chinese side on the FSAs for the PAA and the Mass Transit Railway Corporation, as well as on other related issues such as the Airport Bill and airport franchises.
"After the signing of the Airport Committee Agreed Minute, we have held discussions with the Chinese side on finalising the FSAs and are making progress.
"We are also consulting the Chinese side on the Airport Bill and hope to introduce it to the Legislative Council in early 1995," he said.
The PAA is making good progress on the new airport works. A total of 1,098 hectares, or 88 per cent of the airport platform at Chek Lap Kok has been formed. Foundation work for the passenger terminal building is in an advanced stage and the terminal's design is also substantially complete.
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