XN000022-1986-10-17 — Page 15

FRIDAY, OCTOBER 17, 1986

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JAPANESE BANK GRANTED LICENCE

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THE CHUO TRUST AND BANKING CO. LTD, HAS BEEN GRANTED A BANKING LICENCE TO CONDUCT BUSINESS IN HONG KONG, A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY).

INCORPORATED IN JAPAN, THE CHUO TRUST AND BANKING CO. LTD. WAS ESTABLISHED IN 1962. ITS SUBSIDIARY, CHUO TRUST ASIA LTD., IS A HONG KONG REGISTERED DEPOSIT-TAKING COMPANY.

THE SPOKESMAN ADDED THAT NINE FOREIGN BANKS, INCLUDING FOUR FROM JAPAN, HAVE BEEN GRANTED BANKING LICENCES SO FAR THIS YEAR. +THIS REFLECTS HONG KONG'S IMPORTANT AND DEVELOPING ROLE AS AN INTERNATIONAL FINANCIAL CENTRE,+ HE SAID.

SECOND JUNK BAY TUNNEL TUBE PROPOSED

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THE TERRITORY DEVELOPMENT DEPARTMENT PLANS TO CONSTRUCT THE SECOND TUBE OF THE JUNK BAY TUNNEL AS PART OF THE PRINCIPAL ACCESS ROAD PROJECT, WHICH WILL PROVIDE DIRECT VEHICULAR LINK BETWEEN THE DEVELOPING NEW TOWN AND KWUN TONG.

AS WITH THE SOUTH TUBE NOW UNDER CONSTRUCTION, THE NORTH TUBE WILL BE 900 METRES LONG WITH TWO TRAFFIC LANES.

OTHER PROPOSED WORKS INCLUDE CONSTRUCTION OF 210 METRES OF SINGLE CARRIAGEWAY TO MA YAU TONG CONTROLLED TIP, PROVISION OF TRAFFIC AND PEDESTRIAN AIDS AND CONSTRUCTION OF DRAINAGE AND EARTHWORKS.

WORK ON THE SOUTH TUBE STARTED LAST MONTH AFTER A $134.5 MILLION CONTRACT HAD BEEN AWARDED.

MEANWHILE, THE HIGHWAYS DEPARTMENT PLANS TO CONSTRUCT A 450 METRES LONG CARRIAGEWAY AT WESTERN RECLAMATION ON HONG KONG 1SLAND.

THE ROAD WILL PROVIDE ACCESS FROM CONNAUGHT ROAD WEST NEAR WESTERN STREET TO THE FUTURE PUBLIC CARGO HANDLING AREA AT THE WATERFRONT.

FOOTPATHS MEASURING TWO TO THREE-AND-A-HALF METRES WIDE WILL BE PROVIDED ALONG THE CARRIAGEWAY. A SURFACE DRAINAGE SYSTEM WILL ALSO BE BUILT.

OBJECTIONS TO THE PROPOSED TUNNEL AND ROAD WORKS SHOULD BE SENT IN WRITING TO THE SECRETARY FOR TRANSPORT BY DECEMBER 16.

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