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the price ceiling of $5 billion. It
was only when it became apparent that
these alternatives were not only too
costly but also that they did not
meet the Provisional Authority's
requirements that it decided to withdraw
and, in so doing, it has avoided for
both sides the unpleasant consequences
of a possible contract which would be
impossible to fulfill.
The future
6.
The Government is convinced
that if Hong Kong's future transport
needs are to be met it must have a
Mass Transit Railway. Knowing this,
the Provisional Authority has in
recent weeks developed a Modified
Initial System and assessed its viability.
The results of this intensive exercise
have been considered by the Governor
in Council and approved.
7.
The Modified Initial System
seeks a maximum return on investment
partly by selecting, from the Initial
System, those sections of line which
run through the most densely populated
urban districts and which are, therefore,
the most commercially viable. On this
G.F. 316
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