XN000022-1978-12-20 — Page 30

WEDNESDAY, DECEMBER 20, 1978

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NO PLANS TO BUILD SWIMMING LAGOONS AND ARTIFICIAL BEACHES

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THE SECRETARY FOR THE NEW TERRITORIES, THE HON, DAVID AKERS- JONES, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY), THAT THERE WERE NO PLANS IN THE PUBLIC WORKS PROGRAMME OR ANY OTHER PROGRAMMES TO CONSTRUCT SWIMMING LAGOONS AND ARTIFICIAL BEACHES.

MR. AKERS-JONES SAID THIS IN REPLY TO A QUESTION FROM THE HON. HILTON CHEONG-LEEN WHO ASKED WHEN AND WHERE THE FIRST ARTIFICIAL BEACH AND SWIMMING LAGOON WOULD BE COMPLETED AND OPENED FOR PUBLIC USE.

ANOTHER JOINT VENTURE BOOST FOR LOCAL INDUSTRY

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THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT WELCOMED THE SETTING UP OF A NEW COMPANY BY HONG KONG AND SAUDI ARABIAN INTERESTS WHICH WILL MANUFACTURE ELECTRIC FANS AT THE TAI PO INDUSTRIAL ESTATE.

THE LEASE FOR THE TAI PO SITE WAS SIGNED TODAY (WEDNESDAY) BY THE FAN TAT MANUFACTURING CO. LTD., A JOINT VENTURE BETWEEN WING TAT OF HONG KONG AND A SAUDI ARABIAN COMPANY A.S. HAKBANY AND BROTHERS - SAID TO BE THE WORLD'S LARGEST IMPORTERS OF ELECTRIC FANS.

THIS IS THE FIRST DIRECT INVESTMENT IN HONG KONG MANUFACTURING INDUSTRY BY A SAUDI ARABIAN COMPANY AND REPRESENTS A DIVERS IF ICATION OF SOURCE OF INVESTMENTS.

THE NEW FACTORY WILL MANUFACTURE ELECTRIC FANS AND, AT A LATER STAGE, SEVERAL OTHER ELECTRICAL PRODUCTS.

THE HK$15 MILLION JOINT VENTURE WILL INTRODUCE NEW PRODUCTION PROCESSES TO HONG KONG. IT WILL USE HIGHER TECHNOLOGY WHICH WILL SUBSTANTIALLY INCREASE LABOUR PRODUCTIVITY TO PRODUCE SOME OF THE MOST SOPHISTICATED ELECTRIC FANS IN THE INDUSTRY.

LIKE ALL NEW INDUSTRIAL INVESTMENTS. THIS INVESTMENT IS WELCOMED BY THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT, A SPOKESMAN FOR THE DEPARTMENT SAID. +THIS HAS BEEN A GOOD YEAR FOR INDUSTRIAL INVESTMENT,+ HE ADDED.

+MORE THAN 80 NEW PLANTS HAVE BEEN OPENED THIS YEAR WITH OVERSEAS INTERESTS. IN ADDITION, A NUMBER OF NEW TECHNIQUES AND NEW PRODUCTS HAVE BEEN INTRODUCED TO HONG KONG COMPANIES BY THE TRADE, INDUSTRY AND CUSTOMS DEPARTMENT, HE SAID.

THE SAUDI ARABIAN PARENT COMPANY HAS A LONG HISTORY OF TRADING WITH HONG KONG. IT BEGAN IMPORTING ELECTRICAL EQUIPMENT FROM FAN TAT ALMOST 20 YEARS AGO. IT IS ALSO THE OFFICIAL GOVERNMENT SUPPLIER OF ELECTRICAL EQUIPMENT IN SAUDI ARABIA.

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