XN000022-1992-01-24 — Page 3

2

FRIDAY, JANUARY 24, 1992

"FUTURE CONTAINER TERMINALS IN HONG KONG WOULD ALSO BE BUILT ON THE LANTAU PORT PENINSULA.

THE

ALSO SPOKESMAN

ENHANCED

"THE FINANCIAL POSITION OF THE LFC WOULD THEREFORE BE BY THE LANTAU PORT PENINSULA MORE THAN WHETHER CT9 WAS ON TSING YI.

GOVERNMENT

POINTED OUT THAT AS THE

STUDY FOR FEASIBILITY

LANTAU PORT DEVELOPMENT ON NORTH

WAS STILL UNDERWAY AND THE FINDINGS WOULD NOT BE AVAILABLE UNTIL THE END OF THIS BETWEEN YEAR, IT WAS NOT POSSIBLE TO GIVE AN ACCURATE COST COMPARISON THE TSING YI AND LANTAU SITES AT THIS STAGE.

"THE COST THEREFORE SPECULATIVE.

OF DIFFERENTIAL

$7.6 BILLION REFERRED TO WAS

THE

GOVERNMENT

WAS SPOKESMAN EXPLAINED THAT THERE SCOPE FOR EXPANDING THE EXISTING MID-STREAM FACILITIES TO LESSEN NEED FOR NEW CONTAINER TERMINALS AS MOORING SPACE AND ON-SHORE HANDLING SPACE WERE LIMITED.

NOT

MUCH

THE

CARGO

NEVERTHELESS

IN THE CONSULTANCY PLAN TO DEVELOP CT9 ON EAST TSING YI, A STRIP OF LAND HAS BEEN EARMARKED FOR WORKING PURPOSE.

"RECLAMATION

DISTURBANCE

WOULD NOT PROGRAMMED SO AS TO CAUSE THE LEAST ΤΟ EXISTING CARGO HANDLING ACTIVITIES ON TSING YI,"

HE

PUBLIC

SOUTH-

CARGO

SAID.

THE SPOKESMAN SAID IT WAS IMPRACTICAL TO USE THE PROPOSED RIVER TRADE TERMINAL SITE AT TUEN MUN AREA 38 FOR MID-STREAM OPERATION.

"THERE WAS NO FIRM DEVELOPMENT PLAN FOR RECLAIMING THE SITE AND INFRASTRUCTURAL FOR PROVIDING THE NECESSARY TRANSPORT LINKS AND OTHER

WAS FOR WHICH AREA, THE TOTAL DEVELOPMENT COST

TO THE FACILITIES ESTIMATED AT $4 BILLION.

"IN

CARRIED

++

HE

ADDITION, THE CONSULTANCY DESIGN FOR THE SITE WAS OUT FOR A COMPLETELY DIFFERENT PURPOSE TO MEET DIFFERENT DEMANDS, SAID.

/3