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Year of significant progress on Airport Core Programme
Good progress has been made on the Airport Core Programme (ACP) this year, with total construction work on the seven Government-funded projects now having past the 50 per cent mark.
The half-way mark was reached early this month, and the seven projects, as well as the Western Harbour Crossing, are all well on track for completion by mid-1997.
The signing of the Agreed Minute on financing arrangements for the airport and airport railway on November 4 was an important step forward for these two projects.
Work on forming the new airport site at Chek Lap Kok is progressing rapidly, with over 80 per cent of the airport platform completed and the contract to build the passenger terminal building to be awarded in the new year.
On the airport railway, subsequent to approval by the Finance Committee of the $23.7 billion government equity injection, the Mass Transit Railway Corporation has proceeded to award major contracts for which it has been holding option letters.
Over half of 31 major airport railway contracts have now been awarded.
"It is a remarkable achievement that work has been progressing so well on a 10-project programme of this size and complexity," said the Director of the New Airport Projects Co- ordination Office, Mr Billy Lam, today (Tuesday).
"We remain confident that all the 10 core projects can be completed to the maximum extent possible by mid-1997 in a cost-effective manner," he said.
Mr Lam noted that the overall cost estimate for the ACP was reduced from $163.7 billion to $158.2 billion in January this year.
"This reduction was made possible mainly by our fair and open tender system, together with the rigorous cost control mechanism we have adopted.
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