TNAG-2007-FCO40-2855-Address-by-Sir-David-Wilson--Governor-of-Hong-Kong--at-the-o-1990 — Page 43

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in the record time of 19 months.

schedule.

That is two years ahead of

It will be fully operational in two weeks' time.

The site for

Terminal Eight will be let for private sector

development in the first quarter of next year. The aim is

to have it ready for use during 1993.

74.

The Government, too, has an important role to play

Part of this is

to

provide

in port development.

breakwaters,

typhoon shelters and additional land for cargo

handling and container storage. Another, crucial, role is

to ensure that additional facilities become available at the

right time and in the

task, the

administration

right place. In carrying out this

will now have the advantage of

advice from the Port Development Board, which started work

in August.

75.

The

estimate of the total cost of the new port

development is some $55 billion at current prices. But it

remember that this expenditure will be

is important

to

committed in phases, between now and the year 2006, and that

the commercial

induce private

viability of the development is expected to

business to invest some 80% of the finance

The

policy is

to provide new port capacity as

as,

but

по sooner

than, it is required.

This

required.

soon

/incremental