XN000022-1991-03-25 — Page 11

—

10

MONDAY, MARCH 25, 1991

FROM

GROWN

BILLION IN

NOTING THAT THE PREMIA FOR LIFE INSURANCE CONTRACTS HAVE LESS THAN $1 BILLION IN THE EARLY 1980S TO OVER $5 1990, SIR PIERS SAID THIS SUCCESS HAD BEEN DUE TO THE FAR-SIGHTEDNESS, DYNAMISM AND DRIVE OF THE INSURANCE INDUSTRY.

THE INSURANCE

ORDINANCE COMPANIES

MIGHT

ALSO HAVE HAD

A

POSITIVE EFFECT ON THE GROWTH OF THE MARKET, HE ADDED.

EIGHT SURVEYS PART OF PLANNING FOR STRATEGIC SEWAGE DISPOSAL SCHEME

* * * * *

AN ARTICLE IN AN IN RESPONSE TO PRESS ENQUIRIES ON

ENGLISH

TODAY (MONDAY) NEWSPAPER

CONCERNING APPROVAL FROM THE CHINESE FOR AUTHORITIES FOR SURVEYS IN CHINESE WATERS AS PART OF THE PLANNING

FOR THE PLANNING, THE STRATEGIC SEWAGE DISPOSAL SCHEME, A SPOKESMAN ENVIRONMENT AND LANDS

SAID THERE ARE CURRENTLY ALTOGETHER PROPOSAL, FIVE OCEANOGRAPHIC

AND

THREE

EIGHT

SURVEYS

BRANCH UNDER THE

GEOPHYSICAL SURVEYS.

THE OCEANOGRAPHIC SURVEYS ARE TO COLLECT DATA TO (A COMPLEX COMPUTER MODEL OF WATER MOVEMENT AND WATER QUALITY

DETECT AROUND HONG KONG HARBOUR), THE GEOPHYSICAL SURVEYS ARE TO

THE TUNNEL FOR THE LONG INTEGRITY OF THE SEABED FOR DRILLING OUTFALL.

EXTEND WHAMO

IN AND

THE SEA

WITH

THE

AUTHORITIES ENSURE

CO-OPERATION FOR

THE ACTIVE BETWEEN THE

ARRANGEMENTS FOR THE SURVEYS ARE MADE ASSISTANCE OF THE CHINESE AUTHORITIES. REGULAR COMMUNICATIONS GOVERNMENT STAFF AND CONDUCT OF THE SURVEYS.

ALL SURVEYS HAD THE SPOKESMAN SAID NOT

YET STARTED. THOSE PROCEEDING NORMALLY UNTIL DECEMBER SURVEYS IN OPERATION WERE

LAST YEAR WHEN THE CHINESE AUTHORITIES REQUESTED ADDITIONAL INFORMATION THE FULL EXTENT AND SCOPE OF THE SURVEYS.

THE CHINESE

ON

AUTHORITIES HAVE BEEN FORMAL CONFIRMATION

FURTHER DISCUSSIONS WITH HELD RECENTLY TO PROVIDE ADDITIONAL INFORMATION. THAT THE SURVEYS MAY CONTINUE IS EXPECTED SHORTLY.

THE SPOKESMAN ALSO CLARIFIED SOME OF THE INFORMATION IN THE ARTICLE. FOR EXAMPLE,

CONTAINED

WILL ARTICLE

BILLION. $7.5 WILL COST ABOUT

NOT

THE

$3.5

*

THE DISPOSAL PROJECT EMPHASISED COST

BILLION, $15

IN THE APPROXIMATELY CONSTRUCTION OF THE OCEANIC OUTFALL

BUT

BILLION;

OR

то

BE

THE ANNUAL OPERATING COSTS REPORTED TO BE $350 MILLION, EVEN

"AT LEASE $700 MILLION", ARE IN FACT

NO MORE THAN $90 MILLION;

ESTIMATED

/*

THE STATEMENTS