XN000022-1994-11-05 — Page 9

SATURDAY, NOVEMBER 5, 1994

IMPACT OF AIRPORT PROJECTS OF

INFLATION

* *

MEDIA

REPORTS THAT

THE

AIRPORT

AND

AIRPORT RESPONDING ΤΟ RAILWAY PROJECTS WOULD FUEL INFLATION, A GOVERNMENT SPOKESMAN SAID:

+

CONSTRUCTION INDUSTRY THERE SHOULD BE NO UNDUE STRAIN ON THE

CORE BECAUSE CAREFUL ARRANGEMENTS ARE ALREADY IN PLACE ON THE AIRPORT

THIS WILL PROGRAMME FOR CONTRACTORS TO IMPORT LABOUR AS NECESSARY. OFFSET THE INFLATIONARY RISKS OF EXCESSIVE DEMAND FOR LOCAL LABOUR THE AIRPORT AND AIRPORT RAILWAY PROJECTS.

ON

"THERE IS ALSO NO REASON WHY THE AIRPORT AND AIRPORT SHOULD COMBINED

SECTOR BORROWINGS OF $23 BILLION PRIVATE INFLATIONARY IMPACT.

RAILWAY'S HAVE ANY

ANY PRESSURE "THESE BORROWINGS SHOULD BE ACCOMMODATED WITHOUT

OF THE BORROWING PLANS, ON CAPITAL MARKETS. BANKERS ARE WELL AWARE

ADVANCE PROV LS LONS

THEIR IN AND WILL HAVE MADE

LOWER FIGURE PLANNING. THE $23 BILLION COMBINED DEBT IS ALSO A MUCH THAN THEY AND THE CORPORATIONS HAD ORIGINALLY BEEN PLANNING FOR."

NECESSARY THE

REZONING OF GOVERNMENT QUARTERS SITE APPROVED BY TPB

* * * * *

THE METRO PLANNING COMMITTEE OF THE TOWN PLANNING BOARD HAS AGREED TO AN AMENDMENT TO THE APPROVED MID-LEVELS WEST OUTLINE ZONING PLAN

OF IN RESPECT OF A SITE AT 75 KENNEDY ROAD WITH AN AREA

ABOUT 3,000 SQUARE METRES AND CURRENTLY USED AS GOVERNMENT QUARTERS (THE HERMITAGE).

THE

AMENDMENT INVOLVES "GOVERNMENT/INSTITUTION/COMMUNITY" GOVERNMENT USE AND OWNERSHIP GOVERNMENT USES SUCH AS OFFICES.

TO

REZONING OF THE

SITE

ΤΟ

USE TO REFLECT ITS EXISTING ALLOW FLEXIBILITY FOR FUTURE

ALLOCATE THIS SITE

FOR THE

THE GOVERNMENT INTENDS ΤΟ DEVELOPMENT OF AN OFFICE FOR THE MINISTRY OF FOREIGN AFFAIRS OF THE CHINESE GOVERNMENT.

MID-LEVELS INCLUDING ROAD AND

THE SITE IS LOCATED AT THE EASTERN FRINGE OF THE AREA QUITE CLOSE TO SOME EXISTING "G/IC" DEVELOPMENTS, SCHOOLS AND OTHER INSTITUTIONAL BUILDINGS ON MACDONNELL KENNEDY ROAD, THE EXISTING HEAD OFFICE OF THE HONG KONG ELECTRIC LTD. AND THE COMMERCIAL/GOVERNMENT OFFICE BUILDINGS ALONG COTTON DRIVE.

CO. TREE

WITH THE EXTENSION OF JUSTICE DRIVE TO KENNEDY ROAD, THE SITE WOULD ALSO BE CONVENIENTLY CONNECTED WITH THE COMMERCIAL DEVELOPMENTS IN THE ADMIRALTY AREA.

THE PLAN IS EXPECTED TO BE EXHIBITED UNDER SECTION 5 OF THE TOWN PLANNING ORDINANCE NEXT WEEK FOR A PERIOD OF TWO MONTHS.

0

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