XN000022-1992-04-01 — Page 46

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WEDNESDAY, APRIL 1, 1992

The

includes

unchanged $59.3bn

Government costs estimate

a figure of $53.7bn given last July in an information paper, which also provided for Government costs on the Central and Wanchai Reclamation ($1.8bn) and Airport Railway equity ($3.8bn).

As

provide

announced last July, the government also needs to an additional overall ACP contingency allowance for possible variations in the scope and speed of contracts and project interface issues. This contingency has now been put at $2.5bn.

has

The estimated Cost of the new airport at Chek Lap Kok risen by $1.5bn to $46.3bn, mainly as a result of a more accurate assessment of costs that has become possible since last July. Of the $46.3bn cost, $1.2bn would be offset by pre-opening revenues that were not shown in last July's figures.

The Airport Railway cost was announced last July with a base estimate of $12.5bn. The estimate поч stands at $22.1bn, but the actual cost increase amounts to $3.9bn. This increase is needed to cover essential railway design modifications and some extra civil engineering works.

The remaining $5.7bn partly covers costs of AR-related civil works on Chek Lap Kok, North Lantau and the Lantau Fixed Crossing, which were originally included under the other ACP projects. It also covers land acquisition and design, construction supervision and management costs which, in line with common practice, were not included last July.

/THE PLANNED