XN000022-1976-02-21 — Page 4

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SATURDAY, FEBRUARY 21, 1976

GROWING INTEREST IN SETTING UP

FACTORIES IN TUEN MUN *****

AMONG SIGNS OF RECOVERING BUSINESS CONFIDENCE IN HONG KONG IS THE GROWING NUMBER OF ENQUIRIES FROM BOTH LOCAL AND OVERSEAS CONCERNS ABOUT SETTING UP PLANTS IN THE TUEN MUN NEW TOWN INDUSTRIAL AREA.

ESTATE STAFF IN THE DISTRICT OFFICE THERE HAVE RECEIVED AT LEAST A DOZEN ENQUIRIES DURING THE PAST TWO MONTHS WHILE ONLY A HANDFUL WERE RECEIVED THROUGHOUT THE WHOLE OF 1975.

+WE'RE GETTING CALLS BOTH FROM LOCAL FIRMS WANTING TO EXPAND OPERATIONS AND ALSO FROM EUROPEAN, JAPANESE AND AMERICAN FIRMS,+ SENIOR ESTATE SURVEYOR MR. BOB POPE SAID.

HE FELT THAT APART FROM THE ENDING OF THE RECESSION, THERE WERE TWO MAIN REASONS FOR THE SUDDEN REAWAKENING OF INTERESTS AMONG INDUSTRIALISTS IN TUEN MUN. THE HIGHWAY LINKING THE NEW TOWN TO TSUEN WAN IS DUE TO BE COMPLETED BY LATE 1977, AND THE TAI HING ESTATE HOUSING 29,000 PEOPLE ULTIMATELY WILL BE COMPLETED IN ABOUT ONE YEAR FROM NOW.

+WITH THE OPENING OF THE ROAD,+ SAID MR. POPE, TUEN MUN WILL BE ONLY 20 MINUTES' DISTANCE FROM THE CONTAINER TERMINAL IN KWAI CHUNG.

HE ADDED +WHEN THE ESTATE IS READY AND FAMILIES BEGIN MOVING IN, WORKERS FOR THE VARIOUS INDUSTRIES WILL BE READILY AVAILABLE.+

MR. POPE DESCRIBED AS +MOST EXCITING+ THE PROJECT OF A EUROPEAN FIRM WHICH IS SOON TO START BUILDING A FABRIC PRINTING FACTORY.

+THIS IS AN ENTIRELY NEW PROCESS FOR HONG KONG,+ HE SAID, +AND THE FIRM'S INITIAL INVESTMENT IS IN THE REGION OF $25 MILLION,+

THE COMPANY BOUGHT TWO SITES TOTALLING 96,000 SQ. FT. BY PRIVATE TREATY GRANT UNDER A SCHEME WHEREBY GOVERNMENT IS ENCOURAGING HIGH TECHNOLOGY INDUSTRIES TO COME TO HONG KONG. CONSTRUCTION OF THE FACTORY WILL BEGIN IN MARCH AND WILL BE COMPLETED IN SIX MONTHS WHEN PRODUCTION IS DUE TO COMMENCE. THE FACTORY, WHICH WILL EMPLOY INITIALLY 300 TO 400 WORKERS, WILL BE THE COMPANY'S SOUTHEAST ASIAN PRODUCTION CENTRE.

ANOTHER FACTORY NOW UNDER CONSTRUCTION IS FOR AN AMERICAN TOY COMPANY WHICH WILL PROVIDE EMPLOYMENT FOR UP TO 1,200 WORKERS. THE 24,500 SQ. FT. SITE WAS PURCHASED 20 MONTHS AGO.

ONE OF THE BIGGEST SITES WAS SOLD TO A JAPANESE COMPANY WHICH MANUFACTURES ZIPPERS. THE LAND, MEASURING 155,000 SQ. FT., WAS BOUGHT IN 1973. KOWLOON MOTOR BUS HAS A SITE FOR A BUS DEPOT AND WORKSHOP.

/MR. POPE