DEVELOPMENT LOAN FUND
195.
Housing Loans. A satisfactory reconciliation
has not yet been rendered in respect of the following loan account:
Local Government Officers Housing Schemes at Lung Cheung Road and Ngok Yue Shan and Co-operative Housing Loans at 7% p.a., repayable over 20 years.
$9,700,920.19
CAPITAL WORKS RESERVE FUND
196.
Head 705 - Engineering.
Transport - Railways.
The modernization and electrification of the Kowloon- Canton Railway gave rise to the need to remodel the railway stations along the railway line from Kowloon to Lo Wu, and in August 1980 a civil works contract in the sum of $9 million was let for improvements to the University Station. The improvements included the reconstruction of both the seaward and landward platforms of the station to meet the heights and standards necessary for the introduction of the electrified system. The contractor commenced by reconstructing the seaward platform which was opened in February 1981 and work began immediately on the landward platform. Following a period of heavy rain in March 1981, substantial settlement occurred at the southern end of the seaward platform and in the subsequent months further subsidence caused extensive cracking to the newly completed structure. In June 1981 the landward platform was opened but as a result of the difficulties encountered with the seaward platform, it was completed only to a temporary standard and soon after similar settlement, though less serious, also occurred.
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