TNAG-1175-FCO40-1477-Proposed-replacement-airport-for-Hong-Kong-at-Deep-Bay-or-Ch-1982 — Page 117

FCO40 Hong Kong Department Records 聯邦事務部香港部檔案 All

Task 3.

3.1

Financial evaluation of the project

The forecasts of revenue and operating costs developed

under Tasks 1 and 2 will be used to prepare a financial

evaluation of the Airport over the "base case period"

using pro forma financial statements. This will

demonstrate the anticipated performance of the Airport as

a continuing and independent unit. It is also a necessary

preliminary step towards the identification of an

appropriate financing plan.

3.2

By this stage consultants will have the data in a form in

which a fuller financial assessment of the Airport may be

made. Based upon the pro forma financial statements

already determined, consultants can arrive at an internal

rate of return recognising the value of the Airport at the

end of the analysis period. This will provide one

essential element of information supporting an

information memorandum for the market.

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