XN000022-1993-07-21 — Page 11

WEDNESDAY, JULY 21, 1993

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MORE INFRASTRUCTURE, WOULD ADD ENORMOUS

"AS COMMUNITY ASPIRATIONS BUILD UP FOR FAILURE TO ATTRACT PRIVATE SECTOR INVESTMENT SPENDING PRESSURE ON THE PUBLIC WORKS PROGRAMME, TO THE POINT WHERE VERY PAINFUL CHOICES WOULD HAVE TO BE MADE,

"

MR YEUNG SAID.

WOULD SET A PROJECTS, MR

ON THE CONCERN ABOUT WHETHER THE WHC FRANCHISE PRECEDENT FOR FUTURE BOT (BUILD, OPERATE AND TRANSFER) YEUNG SAID HE WOULD BE PREPARED IN FUTURE TO CONSULT THE LEGCO TRANSPORT PANEL ON THE AIMS AND OBJECTIVES BEFORE THE GOVERNMENT ENTERED INTO NEGOTIATIONS FOR THE NEXT BOT EXERCISE.

BUT A CLEAR DISTINCTION MUST BE DRAWN BETWEEN HEARING LEGCO MEMBERS' VIEWS ON THE AIMS AND OBJECTIVES OF A BOT PROJECT AND ALLOWING THE GOVERNMENT TO GET ON WITH NEGOTIATING THE FRANCHISE.

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"IT IS IN THE NATURE OF MANY NEGOTIATIONS THAT WE CANNOT COME BACK TO THIS COUNCIL WHILE NEGOTIATIONS ARE IN PROGRESS, HE SAID.

IN SUMMING UP, MR YEUNG SAID THE FRANCHISE CONTAINED IN THE WESTERN HARBOUR CROSSING BILL IS GOOD FOR HONG KONG AND FAIR TO ALL CONCERNED.

"THE FRANCHISEE WILL BUILD AN ESSENTIAL TUNNEL AT NO COST TO THE TAXPAYER.

$7.5 BILLION ROAD

"THE TOLL LEVELS PROPOSED, THE RATES OF RETURN EXPECTED BY THE FRANCHISEE AND THE TOLL ADJUSTMENT MECHANISM ARE ALL REASONABLE, GIVEN THE SCALE OF INVESTMENT REQUIRED AND THE LONG PAY BACK PERIOD. AND FOR THE FIRST TIME WE HAVE A MECHANISM FOR USING EXCESS PROFITS FOR THE BENEFIT OF THE MOTORIST.

0

AN

DRAFT AIRPORT BILL AT ADVANCED STAGE

* * * * *

THE DRAFTING OF A BILL TO ESTABLISH THE AIRPORT AUTHORITY IS AT ADVANCED STAGE AND THE GOVERNMENT AIMS TO INTRODUCE IT ΤΟ THE LEGISLATIVE COUNCIL IN THE EARLY PART OF THE NEXT LEGISLATIVE SESSION.

THIS WAS ANNOUNCED BY THE FINANCIAL SECRETARY, THE HON HAMISH MACLEOD, TODAY (WEDNESDAY) WHILE TABLING THE ANNUAL REPORT AND AUDITED ACCOUNTS OF THE PROVISIONAL AIRPORT AUTHORITY FOR THE YEAR ENDED MARCH 31 THIS YEAR.

THE REPORT SHOULD BE THE LAST ONE ISSUED BY THE PROVISIONAL BODY, MR MACLEOD SAID.

ON

"IF ALL GOES WELL, AND AGREEMENT IS SOON REACHED WITH CHINA THE AIRPORT FINANCING PLAN, THE CONSTRUCTION OF THE TERMINAL BUILDING COULD BEGIN IN MID-1994 WHEN SUFFICIENT LAND WILL HAVE BEEN UNDER THE SITE PREPARATION CONTRACT.

RECLAIMED

"MEANWHILE, PLANNING FOR THE EXTERNAL FINANCING OF AUTHORITY WILL CONTINUE," HE ADDED.

THE

/MR MACLEOD