XN000022-1990-05-23 — Page 15

WEDNESDAY, MAY 23, 1990

1.3

PADS PROJECTS OFFER EXCITING OPPORTUNITIES

*

THE PORT AND AIRPORT PROJECTS OFFER EXCITING OPPORTUNITIES FOR PARTICIPATION BY FIRMS FROM ALL OVER THE WORLD IN CONSTRUCTION, FINANCING AND PROVISION OF SERVICES,

SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, SAID.

THE

SPEAKING AT A SEMINAR ORGANISED BY THE UNITED STATES CHAMBER OF COMMERCE IN WASHINGTON TODAY (WEDNESDAY), MRS CHAN GAVE AN OVERVIEW OF POLITICAL, ECONOMIC AND SOCIAL BACKGROUND AGAINST WHICH THE PORT AND AIRPORT DEVELOPMENT STRATEGY (PADS) HAD BEEN DRAWN UP.

SHE SAID THAT MANY ELEMENTS OF THE PROJECTS WOULD BE ATTRACTIVE TO THE PRIVATE INVESTOR AND THE HONG

HAD BEEN KONG GOVERNMENT ENCOURAGED BY THE INTEREST SHOWN TO DATE.

"THE AIRPORT RAILWAY, THE MAJOR BRIDGE AND TUNNEL LINKS, TENANT A FACILITIES AT THE AIRPORT AND NEW PORT FACILITIES WOULD ALL INVOLVE HIGH LEVEL OF PRIVATE SECTOR PARTICIPATION, SHE NOTED.

Ir

IN.

"ON THE

THAT FINANCING OF THE PADS PROJECTS, WE BELIEVED BROAD TERMS AS MUCH AS 60 PER CENT OF IT COULD BE BORNE BY THE PRIVATE SECTOR," SHE SAID.

SHE

WERE TERRITORY

POINTED OUT THAT HONG KONG'S PLANS FOR FUTURE GROWTH NECESSARILY ON A GRAND SCALE SINCE HONG KONG WAS ALREADY A OF SOME SIGNIFICANCE IN TERM OF THE WORLD'S ECONOMY.

THE NEW

OF

THE MAJOR

INFRASTURCTURE TO BE INTRODUCED IN THE PADS AND

WERE HONG KONG'S TARGETS FOR TERTIARY EDUCATION UPGRADING

FOR INVESTMENTS

THE FUTURE AND THEY WERE NOT PIPE DREAMS OR GRAND POLITICAL GESTURES, MRS CHAN SAID.

IN

THEY ARE "THEY ARE DECISIONS BASED ON COOL HEADED ECONOMICS. ESSENTIAL IF HONG KONG IS TO REMAIN THE HUB OF ECONOMIC ACTIVITIES THE REGION," SHE ADDED.

UPDATING PROGRESS OF THE AIRPORT PROJECT, MRS CHAN

LAP KOK AIRPORT MASTER PLAN CONSULTANCY THE CHEK COMMENCE IN A FEW WEEKS' TIME.

WAS

SAID THAT ΤΟ SCHEDULED

"IT

MASTER WILL INVOLVE THE PREPARATION OF THE AIRPORT

ENGINEERING CIVIL

FOR DESIGN WORKS

RECLAMATION DETAILED

THE

SHE SAID. SURROUNDING SEAWALL AND AN ENVIRONMENTAL IMPACT STUDY,"

PLAN, AND

"WE

ARE ESTABLISHING

WILL BE AN AIRPORT AUTHORITY WHICH STATUTORY

THE LEGISLATION CORPORATION.

ESTABLISHING A PROVISIONAL MRS CHAN SAID. AUTHORITY WAS PASSED IN APRIL THIS YEAR,

A

**

THE AUTHORITY

GOVERNMENT

OWNED AND,

PER CENT GOVERNMENT

AT WOULD,

LEAST INITIALLY BE 100

AN IN ADDITION TO

INJECTION OF EQUITY, WOULD BE FINANCED BY LOANS RAISED IN THE INTERNATIONAL MARKET, SHE ADDED.

/ON THE