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Tuesday, December 11, 1973
The first site, on Tsing Yi Island, was sold by public tender
in April this year to an American company which will manufacture outboard
engines for export. That company has subsequently applied for an extension
of the original site in order to double its estimated production and to
treble the value added by virtue of the engineering work done here, This
additional sale, on a private treaty basis, is at present under consideration.
The sale by private treaty of a 10 acre site, again on Tsing
Ti
Yi Island, to another American company, has recently been approved in
principle by Executive Council. This will be used to establish one of
the largest production plants for polystyrene in the world. The plant,
which will deliver this essential material to our plastics industry by
mid-1975, will not cause pollution and if properly controlled and managed,
poses no throat or danger to the environment.
A third major project is a plant to produce polyester filament and
fibre for our textile industry. A site has already been identified in
the Castle Peak area and discussions are being held with the applicants
about the feasibility of the project on this site. This is distinctly
hopeful.
Government will continue, on an individual basis along these lines,
to try and meet the needs of selected larger industries which would make
a significant individual contribution to Hong Kong's economic growth. But
it is clear that unless advance preparation of suitable land is made, many
useful land intensive industries will be lost to Hong Kong. To meet these
needs, a working party has been identifying areas in the New Territories
/suitable
No comments yet.
Private notes are available after approval.