certain major infrastructures would be in place by the time the replacement airport opens and that some of the works could be advanced to match the airport opening date. However, there is yet no
is yet no financial
financial approval for these works nor have they been covered by the capital estimates in paragraph 27.
in paragraph 27. Strategy B assumes that Route 3, West Kowloon Reclamation and West Harbour Crossing will be completed prior to the airport commissioning date. It further assumes that Green Island Reclamation and at least a section of Route 7 would be in place before 2006 in time for the Lantau Green Island Link. Strategy C assumes that the Green Island Reclamation and Route 7 would be completed before the airport opening date. It also assumes that Route 3 and West Kowloon Reclamation would be completed to serve the port development at North East Lantau.
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29
The foregoing points indicate that the implementation of any Recommended Strategy will have significant, financial, organisational and staffing implications for Government. number and cost of additional staff, however, cannot accurately assessed at this stage.
30
The be
It is emphasised that the PADS study has SO far produced one Recommended Strategy for each of three airport scenarios. No cross comparisons have yet been made between the three scenarios in terms of economic and financial costs and benefits, institutional aspects, the relative feasibility of the implementation of works and environmental performance etc. Such evaluations fall within the next and final stage of the study.
Financing & Institutional Options
31
The financing and institutional options for the port, airport and transport infrastructure are presently being dealt with separately. However, in carrying forward one recommended strategy certain financing and institutional matters for the three fields of interest may need to be dealt with jointly.
32
As regards the port, а number of alternatives are being considered. These range from the continuation of the present arrangements, with the private ownership and operation of port facilities and departmental management of marine and port activities, to the setting up of a suitable authority.
33
Potential
As regards a replacement airport, the main options are currently seen to be a government-owned airport authority or a company with or without private shareholding. sources and forms of equity and debt financing are being reviewed. For a Kai Tak retained scenario, current thinking is that the airport should continue to be under Government control.
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