XN000022-1990-02-05 — Page 2

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MONDAY, FEBRUARY 5, 1990

CHEK LAP KOK TO SET TREND FOR 21ST CENTURY

IT IS THE GOVERNMENT'S INTENTION THAT CHEK LAP KOK AIRPORT WILL SET THE TREND FOR OTHER NEW AIRPORTS ΤΟ FOLLOW IN THE 21ST CENTURY, THE SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, SAID TODAY (MONDAY).

"THIS PROJECT TOGETHER WITH OUR PLANS FOR PORT EXPANSION AND THE ASSORTED DEVELOPMENT OF OUR TRANSPORT INFRASTRUCTURE OFFER EXCITING OPPORTUNITIES FOR INTERNATIONAL FIRMS TO PARTICIPATE, WHETHER IN THE ACTUAL CONSTRUCTION, FINANCING OR PROVISION OF SERVICES.

"ALTHOUGH IT WILL BE AT LEAST ANOTHER YEAR BEFORE WE ARE ABLE TO TAKE FINAL DECISIONS ON FUNDING, WE KNOW ALREADY THAT MANY OF THE PROJECTS MAKE SOUND COMMERCIAL SENSE AND ARE LIKELY TO PROVE ATTRACTIVE TO THE PRIVATE INVESTORS," SHE SAID.

KONG

SPEAKING AT A CONFERENCE ORGANISED BY THE HONG INSTITUTION OF ENGINEERS, MRS CHAN SAID THE GOVERNMENT HAD BEEN ENCOURAGED BY THE MANY EXPRESSIONS OF INTEREST IT HAD RECEIVED FROM FAR AND NEAR.

"THERE APPEARS TO BE SCOPE FOR 40 PER CENT TO 60 PER CENT OF THE TOTAL COSTS OF OUR DEVELOPMENT PACKAGE TO BE BORNE BY THE PRIVATE SECTOR.

"WE WELCOME THE WIDEST INTERNATIONAL COMMUNITY IN OUR

SAID.

POSSIBLE PARTICIPATION FROM THE INFRASTRUCTURAL DEVELOPMENTS, SHE

AN

MRS CHAN POINTED OUT THAT THE GOVERNMENT WAS NOW DEVELOPING APPROACH TO IMPLEMENTATION WHICH WOULD ENABLE IT ΤΟ TAP THE BEST EXPERTISE AVAILABLE WORLDWIDE.

'WE ARE ESTABLISHING AN AIRPORT

AUTHORITY WHICH WILL BE A

STATUTORY CORPORATION.

"THIS WILL, AT LEAST INITIALLY, BE 100 PER CENT GOVERNMENT OWNED AND, IN ADDITION TO AN INJECTION OF GOVERNMENT EQUITY, WILL BE FINANCED BY LOANS RAISED IN THE INTERNATIONAL MARKET.

"WE BELIEVE THIS STRUCTURE WILL PROVIDE THE BEST VEHICLE FOR ACHIEVING OUR TARGET OF OPENING THE FIRST OF THE PROPOSED TWO RUNWAYS AT CHEK LAP KOK AT THE START OF 1997," SHE SAID.

AT THE END OF THIS MONTH, SHE SAID, THE GOVERNMENT WOULD BE CONSIDERING PROPOSALS FROM EIGHT AMERICAN AND EUROPEAN AND JAPANESE CONSULTANTS OF INTERNATIONAL STANDING WHO HAVE BEEN SHORTLISTED FOR THE MASTER PLAN CONSULTANCY FOR THE NEW AIRPORT.

"THE CONSULTANCY