XN000022-1994-07-08 — Page 20

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FRIDAY, JULY 8, 1994

AFTER THE ACQUISITION, NAB DECIDED TO ABSORB BNZ'S HONG KONG OPERATIONS INTO THE NAB NETWORK.

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"THE ABSORPTION OF BNZ'S OPERATIONS IN HONG KONG PURELY REFLECTS NAB'S RATIONALISATION OF THE GROUP'S OPERATIONS,' SAID THE SPOKESMAN.

"HONG KONG CONTINUES TO BE REGARDED AS AN IMPORTANT PLACE TO HAVE A BANKING PRESENCE. SEVEN BANKING LICENCES HAVE BEEN GRANTED ΤΟ OVERSEAS BANKS SINCE JANUARY 1994, HE SAID.

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AFTER THE REVOCATION, THERE ARE 178 LICENSED BANKS IN HONG KONG, OF WHICH 146 ARE INCORPORATED OUTSIDE THE TERRITORY.

LUNG CHEUNG AND CHING CHEUNG ROADS TO BE IMPROVED

KWUN

LUNG CHEUNG ROAD AND CHING CHEUNG ROAD ARE TO BE IMPROVED TO PROVIDE THE MUCH-NEEDED ADDITIONAL TRUNK ROAD CAPACITY BETWEEN TONG AND KWAI CHUNG, ESPECIALLY AFTER THE OPENING OF THE CHEK LAP KOK AIRPORT IN 1997.

A $576 MILLION CONTRACT WAS SIGNED TODAY (FRIDAY) BY THE ACTING DIRECTOR OF HIGHWAYS, MR YEUNG KIM-CHOY, AND REPRESENTATIVES OF THE CONTRACTOR, TO ENABLE WORK TO START IN THE MIDDLE OF THIS MONTH.

A SPOKESMAN FOR THE HIGHWAYS DEPARTMENT SAID THE PROJECT WAS TO WIDEN MUCH OF THE EXISTING DUAL, TWO-LANE ROADS TO DUAL, THREE-LANE ROADS, AND TO BUILD A BYPASS ON ELEVATED STRUCTURES, CALLED "OFF LINE LINK", BETWEEN TAI PO ROAD AND BEACON HEIGHTS.

UNDER THIS CONTRACT, WHICH FORMS PHASE 1 OF THE WHOLE IMPROVEMENT WORK IS TO BE CARRIED OUT IN THE SECTION FROM VALLEY ΤΟ NAM CHEONG STREET INCLUDING THE CONSTRUCTION OF LINE LINK”.

PROJECT, BUTTERFLY THE "OFF

THE SPOKESMAN SAID WORK WOULD INCLUDE IMPROVEMENT OF THE CORNWALL STREET/NAM CHEONG STREET ROUNDABOUT, THE REALIGNMENT OF PARTS OF TAI PO ROAD AND THE RELOCATION AND IMPROVEMENT OF TAI WOH PING ROAD AND ITS CONNECTION TO TAI PO ROAD, AND THE INSTALLATION OF EMERGENCY TELEPHONE SYSTEM.

TO ENHANCE SAFETY, TWO EXISTING FOOTBRIDGES WILL BE DEMOLISHED AND REPLACED BY TWO NEW ONES. NOISE BARRIERS ALONG SECTIONS OF THE "OFF LINE LINK" AND SECTIONS OF THE WIDENED CHING CHEUNG ROAD WILL ALSO BE INSTALLED.

THE SPOKESMAN SAID THE PHASE I WORKS INVOLVED HEAVY FOUNDATION WORKS, NUMEROUS PRESTRESSED CONCRETE BRIDGE STRUCTURES ΤΟ BE CONSTRUCTED IN CLOSE PROXIMITY TO MAJOR CUT SLOPES WHICH HAVE TO BE REMAINED UNDISTURBED AT ALL TIMES.

"AS LUNG CHEUNG ROAD AND CHING CHEUNG ROAD ARE THE MAIN CORRIDOR CONNECTING EASTERN KOWLOON AND TSUEN WAN/KWAI CHUNG AREAS, IT IS IMPORTANT THAT THE EXISTING DUAL, TWO-LANE TRAFFIC MUST BE MAINTAINED TO MINIMISE DISRUPTION TO TRAFFIC DURING CONSTRUCTION, SAID.

HE

"THIS TRAFFIC

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