XN000022-1985-10-02 — Page 12

WEDNESDAY, OCTOBER 2, 1985

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+THE GOVERNMENT'S PLANNING LOOKS BEYOND 1997 AND WELL INTO THE NEXT CENTURY. THE NEED FOR MAJOR CAPITAL INVESTMENT FROM BOTH THE PUBLIC AND PRIVATE SECTOR WILL CONTINUE AND THIS OPENS UP ENORMOUS OPPORTUNITIES FOR LOCAL AND OVERSEAS ENTERPRENEURS TO PARTICIPATE, HE SAID.

OUTLINING THE TERRITORY'S DEVELOPMENT PROGRAMME OVER RECENT YEARS MR CHAN TOLD FRENCH INDUSTRIALISTS +OVER THE PAST FIVE YEARS ALONE THE GOVERNMENT HAS SPENT MORE THAN HK$58 BILLION ON ITS CAPITAL ACCOUNT AND A FURTHER $8.5 BILLION HAS BEEN ALLOCATED FOR THIS YEAR.

+THE TOTAL VALUE OF PROJECTS IN THE PUBLIC WORKS PROGRAMME ALONE IS SOME $50 BILLION WITH OUTSTANDING COMMITMENTS OF SOME $20 BILLION ON WORKS NOW IN PROGRESS.+

NEW INVESTMENT IN INDUSTRY SEEN ****

STATISTICS RECENTLY RELEASED BY THE HONG KONG INDUSTRIAL ESTATES CORPORATION PROVIDE FURTHER EVIDENCE OF SATISFACTORY LEVELS OF NEW INVESTMENT IN HONG KONG'S MANUFACTURING INDUSTRY OVER THE LAST SIX MONTHS.

SINCE APRIL 1 THERE HAS BEEN A HEALTHY INCREASE+ IN THE AMOUNT OF LAND GRANTED BY THE CORPORATION TO INDUSTRIAL UNDERTAKINGS, A SPOKESMAN FOR THE CORPORATION SAID.

NEW GRANTS TOTALLING 8.25 HECTARES HAVE BEEN MADE OF WHICH 6,25 HECTARES ARE AT TAI PO ESTATE AND 2 HECTARES AT THE YUEN LONG ESTATE.

OF THE 54.5 HECTARES OF INDUSTRIAL LAND AVAILABLE AT THE TAI PO ESTATE, 45.25 HECTARES (83 PER CENT) HAVE ALREADY BEEN SOLD, LEAVING ONLY 8.25 HECTARES CURRENTLY DISPOSABLE. NO ADDITIONAL LAND WILL BE AVAILABLE UNTIL EARLY 1987 WHEN 13.25 HECTARES NOW BEING RECLAIMED FROM TOLO HARBOUR WILL COME ON STREAM.

AT THE YUEN LONG ESTATE, ONLY 3.07 HECTARES OF THE TOTAL INDUSTRIAL LAND AREA OF 67.27 HECTARES HAS ACTUALLY BEEN GRANTED, OF WHICH 2.71 HECTARES (88 PER CENT) WAS LEASED IN THE LAST 12 MONTHS. HOWEVER, ADDITIONAL APPLICATIONS AMOUNTING TO 6.7 HECTARES ARE CURRENTLY BEING PROCESSED.

IN RESPONSE TO THE STRONG DEMAND FOR THE SMALL AMOUNT OF LAND AVAILABLE AT TAI PO, THE BOARD OF THE HONG KONG INDUSTRIAL ESTATES CORPORATION HAS INCREASED THE PREMIUM FOR LAND AT THAT ESTATE FROM $800 TO $900 PER SQUARE METRE BUT HAS LEFT THAT FOR LAND AT THE YUEN LONG ESTATE UNCHANGED AT $800 PER SQ. METRE.

/THE BOARD