TNAG-0772-FCO40-976-Modernisation-and-electrification-of-the-Kowloon-Canton-Rail-1978 — Page 169

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if adequate capacity is provided on the KCR through electrification of the main line from Hung Hom to Lo Wu. And this conclusion is reinforced by the need to provide adequate headway for an increading number of freight trains which can only be met by the use of electric traction for passenger traffic, with its greater acceleration away from stations. The recommendation on an underground extension to Tsim Sha Tsui, however, will need to be more thoroughly evaluated technically as well as from the points of view of transport policy and its economic and financial repercussions before a firm view can be taken on it. When this evaluation has been completed a further submission will be made to Honourable Members. So, at this stage, attention is being concentrated on the consultants' recommendation to electri fy the main line from Hung Hom to Lo Wu.

Financial Implications of Transmark's Recommendation

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With regard to the electrification of the main line and associated works, rolling stock, etc, the consultants have advised that the estimated gross investment outlay in the first six years of project life (beginning mid-1978) would amount to $396 million, broken down as follows (it should be noted that most of this expenditure would be incurred in the first four years):

HK$ Million

Estimated Investment Expenditure (gross) (1977 price levels)

Year 1 Year 2

Year 3 Year 4 Year 5 Year 6

(June

1978

1979/ 1980

1980/

1981/

1982/

1983/

1981

1982

1983

1984

Total

Main Line

Civil engineering 1.12

18.44

19.84

39.40

Signals and tele-

communications 8.30

15. 10

21.34

21.86

1. 18

0.98

68.76

Mechanical and

electrical

2.90

14.74

13.04

30.68

Rolling stock

128.70

128.70

257.40

Total cost over six years

396.24

C.S. 166

Notes: (1) The signalling and telecommunications costs include incre-

mental maintenance costs incurred during construction.

(2) The rolling stock investment costs assume purchase of

30 x 3-car sets in each of years 3 and 4 (i. e. 1980/81 and 1981/82). It is expected that this electric multiple unit fleet will be augmented by a further 19 x 3-car sets later in the project life which is allowed for in the cash flows.

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