XN000022-1992-06-02 — Page 4

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TUESDAY, JUNE 2, 1992

IT RUNS BETWEEN TA PANG PO AND KEI TAU KOK, AND WILL FORM AN IMPORTANT PART OF THE ROAD TRANSPORT LINKS BETWEEN THE NEW AIRPORT AT CHEK LAP KOK AND THE URBAN AREAS OF HONG KONG.

THE CONTRACT PRICE OF $3,503 MILLION, IN MONEY OF THE DAY FIGURES, INCLUDES SITE FORMATION FOR THE AIRPORT RAILWAY AT A PRICE OF $444 MILLION, WHICH WILL GO AHEAD AFTER AN AGREEMENT HAS BEEN REACHED BETWEEN THE GOVERNMENT AND THE MASS TRANSIT RAILWAY CORPORATION (MTRC) FOR THE AIRPORT RAILWAY, AND WILL BE PAID FOR BY THE MTRC.

THE FIXED PRICE CONTRACT SUM FOR THE GOVERNMENT WORKS IS $3,059 MILLION.

A GOVERNMENT SPOKESMAN SAID TODAY (TUESDAY) THAT THIS WAS WITHIN THE SUM SET ASIDE FOR THE ΤΑΙ HO CONTRACT IN THE OVERALL APPROVED PROJECT ESTIMATE FOR THE NORTH LANTAU EXPRESSWAY OF $5,431 MILLION, WHICH INCLUDED THE YAM O SECTION OF THE PROJECT.

THE $5,431 MILLION IS IN MONEY OF THE DAY AND INCLUDES ESTIMATES FOR INFLATION DURING THE PERIOD OF THE FIXED PRICE CONTRACT AND IS BASED ON AN ORIGINAL ESTIMATE OF $3,793 MILLION IN MARCH 1991 PRICES.

THE CONTRACT AWARD WAS APPROVED BY THE CENTRAL TENDER BOARD ON MAY 28. IT IS TO BE SIGNED ON JUNE 11.

YEARS.

WORKS WILL START NEXT WEEK AND BE COMPLETED IN FOUR-AND-A-HALF

LANTAU EXPRESSWAY JOINT VENTURE SUBMITTED THE LOWEST OF SEVEN TENDERS RECEIVED BY THE HIGHWAYS DEPARTMENT.

THE TENDER SUMS RANGED FROM ITS PRICE OF $3,503 MILLION UP ΤΟ $5,399 MILLION.

THE JOINT VENTURE COMPRISES:

*

CHINA FUJIAN CORPORATION FOR INTERNATIONAL TECHNO-ECONOMIC COOPERATION (PRC)

DOWNER AND COMPANY LIMITED (NEW ZEALAND)

AMEC INTERNATIONAL CONSTRUCTION LTD (UK)

ELTIN LIMITED (AUSTRALIA)

CHINA INTERNATIONAL WATER & ELECTRIC CORPORATION (PRC)

* UNIVERSAL DOCKYARD LIMITED (HONG KONG).

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