TNAG-0770-FCO40-974-Construction-of-underground-railway-system-in-Hong-Kong-1978 — Page 246

C.S. 166

XCC(78)8

(a)

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the Tsuen Wan Extension will terminate at Tsuen Wan (Central) Station and the section which was previously in the Castle Peak Road is to be moved to the north of it;

(b)

the depot and access lines are to be located in North Tsuen Wan as shown in the plan at Annex B;

(c)

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(d)

(e)

the siting of the railway depot and access lines in North Tsuen Wan will involve the Government in extra expenditure of $55 million on resumption and clearances and a net addition of $15 million on site formation and road construction expenses;

the payment of the premium of the order of $190 million for the railway portion of the permanent site to be granted to the Mass Transit Railway Corporation in North Tsuen Wan would be in the equity of the Corpora- tion;

the payment of the premium of the order of $120 million for the development rights over the permanent site in (c) above would be in the form of redeemable preference shares on the terms proposed in paragraph 20;

and to advise whether:

(f)

(g)

(h)

the Corporation should be offered the opportunity to develop above the depot on the basic terms indicated in paragraph 13 above, subject to detailed submission regarding basic terms being made to Council;

the Corporation should in principle be allowed to develop other sites in association with stations, and

in principle the Corporation, as a bulk and certain tenant, should be permitted to pay two-thirds of the standard rental in respect of short term tenancies for the Modified Initial System and the Tsuen Wan Extension and the approved statement of principles for the grant of land to the Corporation should be amended to this effect.

(The Secretary for the Environment (Mr D. J. C. JONES), the Secretary for Economic Services (Mr D. G. JEAFFRE SON), the Mass Transit Adviser (Mr A.H. WILKINS) and the Chairman of the Mass Transit Railway Corporation (Mr N. S. THOMPSON) will attend before the Council for the discussion of this item).

20th January 1978 (CR 1/4913/76 II)

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