42
I
WEDNESDAY, APRIL 1, 1992
The increased costs arise
plus refinement of the estimates.
from some design changes,
Commenting on the updated estimates, Mr Hamish MacLeod, Financial Secretary, said:
"The fact that the government's contribution remains unchanged at $59.3bn is important and is to be welcomed. It has been possible to achieve this because increases in
certain project requirements and
from the MTRC.
costs are offset by lower equity
by previously unquantified reimbursement
Kong's future,
"This means that the cost to the public of the
infrastructure programme, which is essential for Hong
is being strictly contained. It is also important to note that Government expenditure on ACP projects up to 1996-97 will only absorb about one-quarter of total government capital expenditure.
"We are confident that the project costs will be kept under control. We have put in place a specially designed project management and cash-limiting cost-control system, and we are also using fixed price lump sum contracts as far as possible.
H
/THE NEW
+
No comments yet.
Private notes are available after approval.