XN000022-1995-05-24 — Page 44

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Tai Lam Tunnel and Yuen Long Approach Road Bill

Following is the speech by the Secretary for Transport, Mr Haider Barma, in the resumption of the debate for the Tai Lam Tunnel and Yuen Long Approach Road Bill in the Legislative Council today (Wednesday):

Mr President,

Acknowledgement

May I first express the Administration's sincere thanks to the Hon Miriam Lau and all other Honourable Members who served on the Bills Committee to vet the Tai Lam Tunnel and Yuen Long Approach Road Bill. I am grateful for their tremendous input and efforts in examining the Bill, and for completing their work so expeditiously. May I also thank Hon Members for the views they have expressed this afternoon.

In this respect, the Hon Zachary Wong's criticism that the Administration has failed to keep the Council informed is in my view unfounded. The Administration in fact provided three setreps to the LegCo Transport Panel before the Bill was introduced and the very fact that the Bills Committee has been able to complete its deliberations to allow the second reading to be resumed today is indicative of the fact that there has been adequate time to study the Bill.

Proposed Terms of the Franchise

The Bill seeks to award a franchise to the Route 3 (Country Park Section) Company to build and operate the Tai Lam Tunnel and Yuen Long Approach Road. Under the proposed terms of the franchise contained in the Bill, the franchisee is committed to building the project, at his own expense, within a very aggressive construction programme of 38 months. The budgeted project cost is $7,254 million. Any cost overrun will have to be fully borne by the proposed franchisee and will not be part of the construction costs on which the permitted return is based, in other words. cost overruns will not be passed on to the road users.

I must emphasise that the package offered by the Route 3 (CPS) Company is the best available, achieved through a competitive tendering exercise. The proposed BOT franchise will allow this urgently needed project to be completed in the shortest possible time and at the lowest cost. The toll proposed by the franchisee will provide a low and stable toll regime. The Administration has no hesitation in commending this Bill to the Legislative Council.