XN000022-1977-02-11 — Page 3

FRIDAY, FEBRUARY 11, 1977

MR. AKERS-JONES SAID THAT TAI TUNG JOINS A GROWING LIST OF COMPANIES HC HAVE ESTABLISHED, OR WHO ARE TO ESTABLISH, IMPORTANT INDUSTRIES ON TS ING YI ISLAND.+

THE OTHER DEVELOPMENT PROJECTS INCLUDED THOSE BY DOW CHEMICAL, OUTBOARD MARINE, CHEMSYN, THE FEOSO OIL STORAGE DEPOT AND THE PROPOSAL EY HONGKONG UNITED DOCKYARD TO SET UP A $250 MILLION SHIPYARD ON THE WESTERN SIDE OF THE ISLAND,

+THESE PROJECTS REPRESENT INVESTMENTS OF HUNDREDS OF MILLIONS OF DOLLARS IN HONG KONG AND SHOULD BE OF GREAT LONG-TERM BENEFIT, + MR. AKERS-JONES SAID.

MR. AKERS-JONES POINTED OUT THAT THE INDUSTRIAL DEVELOPMENT OF TSING YI WAS BEING ACCOMPANIED BY HOUSING AND COMMUNITY FACILITIES AS PART OF THE BALANCED CVERALL DEVELOPMENT OF TSUEN WAN AS A NEW TOWN.

*THE INDUSTRIAL PLANTS ON THE ISLAND WILL PROVIDE MANY EMPLOYMENT OPPORTUNITIES FOR THOSE WHO WILL LIVE THERE.

+ IN FACT THE FIRST STAGE OF THE CHEUNG CHING ESTATE ON TS ING YE IS JUST ABOUT COMPLETED, AND HOUSING DEPARTMENT WILL SOON BE ORGANISING THE FIRST INTAKE COMPRISING SOME 16,000 RESIDENTS.

+EVENTUALLY, THE ESTATE WILL PROVIDE HOMES FOR ABOUT 75,000 PEOPLE.+

COMMENT ING ON THE PROJECT, THE DEPUTY DIRECTOR OF COMMERCE AND INDUSTRY, MR. ROY PORTER, SAID: THIS INDUSTRY IS IN A FIELD WHICH THE GOVERNMENT BELIEVES HAS A GOOD POTENTIAL FOR GROWTH IN HONG KONG.

+ IT IS THE KIND OF DIVERSIFICATION IN OUR INDUSTRIAL BASE WE EXPECT TO SEE MORE OF IN THE FUTURE, PARTICULARLY WITH THE ADVENT OF THE INDUSTRIAL ESTATES.

+NOT ONLY WILL THE PLANT MAKE A VALUABLE CONTRIBUTION TO INDUSTRIAL AND ECONOMIC GROWTH, IT WILL PROVIDE PARTICULARLY GOOD EMPLOYMENT OPPORTUNITIES TO THE GRADUATES OF OUR RAPIDLY-EXPANDING TECHNICAL EDUCATION SYSTEM AND FOR OTHER

SK ILLED WORKERS.+

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