XN000022-1993-09-21 — Page 14

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TUESDAY, SEPTEMBER 21, 1993

"HOWEVER IT SEEMS TO RELATE TO SPECIFIC PROJECTS WHERE THE COMMITMENT BY THE BANKS TO PROVIDE MORTGAGE FINANCE WAS ENTERED INTO SOME TIME AGO.

"IT REMAINS THE HKMA'S VIEW THAT INSTITUTIONS SHOULD BE CAUTIOUS ABOUT ENTERING INTO ADDITIONAL COMMITMENTS IN CHINA AT THIS TIME, HE ADDED.

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MARKET COMPLEX COMPLETED ON TIME AND WITHIN BUDGET

THE CHEUNG SHA WAN WHOLESALE MARKET COMPLEX PHASE I WILL COME INTO OPERATION NEXT MONTH AFTER BEING COMPLETED BY THE ARCHITECTURAL SERVICES DEPARTMENT (ASD) IN RECORD TIME.

STARTING FROM INITIAL DESIGN STAGE TO COMPLETION, THE 70,000-SQUARE-METRE BUILDING TOOK ONLY 30 MONTHS TO FINISH.

A CEREMONY WAS HELD TODAY (TUESDAY) TO MARK THE HANDING-OVER OF THE MARKET BY THE ASD TO THE AGRICULTURE AND FISHERIES DEPARTMENT WHICH WILL MANAGE THE COMPLEX.

SPEAKING AT THE CEREMONY, THE SECRETARY FOR WORKS, MR JAMES BLAKE, SAID: "THIS MARKET PROJECT, WHICH IS PROBABLY THE FASTEST-EVER BUILDING PROJECT IN HONG KONG RELATIVE TO ITS SIZE, HAS BEEN COMPLETED ON TIME AND WITHIN BUDGET.

THE MARKET WILL REPLACE THE EXISTING MARKET FACILITIES IN WEST KOWLOON,

SCATTERED WHOLESALE

OF IN

"THE SUCCESS OF THIS PROJECT DEMONSTRATES THE EFFECTIVENESS RIGOROUS PROJECT MANAGEMENT AND COST CONTROL SYSTEMS, EMPLOYED THIS INSTANCE BY THE ASD AND THE NEW AIRPORT PROJECTS CO-ORDINATION OFFICE, BUT COMMON TO ALL AIRPORT CORE PROGRAMME (ACP) CONTRACTS.

"THE COMPLETION OF THIS PROJECT WILL ENABLE FURTHER RECLAMATION WORK IN WEST KOWLOON TO PROCEED FOR THE CONSTRUCTION OF THE WEST KOWLOON EXPRESSWAY AND THE AIRPORT RAILWAY, THE ESSENTIAL TRANSPORTATION LINKS CONNECTING THE NEW AIRPORT IN CHEK LAP KOK ΤΟ URBAN AREAS.

"THE AIRPORT RAILWAY, WHOSE CONSTRUCTION WILL BEGIN AS SOON AS WE HAVE REACHED AGREEMENT ON FINANCING ARRANGEMENTS, WILL ALSO HELP TO RELIEVE CROWDING ALONG THE EXISTING MASS TRANSIT ROUTE AS WELL AS SHORTENING THE JOURNEY TIME BETWEEN KOWLOON NORTH (LAI KING STATION) AND CENTRAL, MR BLAKE SAID.

THE DIRECTOR OF ARCHITECTURAL SERVICES, MR PAUL CORSER, SAID

EVERY ASPECT OF THE MARKET PROJECT WAS EXCEPTIONAL.

HANDING OVER A SYMBOLIC KEY TO THE MARKET TO THE ACTING DIRECTOR OF AGRICULTURE AND FISHERIES, MR MICHAEL LEE, MR CORSER SAID NO DELAY COULD BE ACCEPTED ON THE PROJECT.

/THIS WAS

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