TNAG-2140-FCO40-3059-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 66

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businessmen,

their business

financiers and tourists would be forced to take

elsewhere as a result of very high levels of

congestion in the port and airport. There are other

regional centres e.g. Singapore, Bangkok and Seoul which

would welcome the opportunity to capitalise on this

situation at the expense of Hong Kong. Without adequate

port and airport facilities, Hong would be very seriously affected.

Kong's economic growth

Demand for Port Facilities

3. Hong

Kong's

developed by the

port facilities

private sector.

already triggered work for the

Terminal 8 on Stonecutters

Terminal 9 on Tsing Yi.

have traditionally been

Growth forecasts have

construction of Container

Island and the planning of

But if the port is to go on

expanding to cope with demand, much of which is generated by

and contributes towards the economic development of the

People's Republic of China, then the totally new strategy based on new port development on Lantau Island is necessary.

Unlike an airport, port development is more incremental by new port development will be

therefore, not possible to be

expenditure. In any event,

to be met largely by the

nature.

driven by demand.

certain about the timing of

costs involved will continue

The timescale for

It is,

private sector based on sound commercial judgement.

Financial Considerations

4. A very rough order of capital costs of the whole

strategy is

estimated to be HK$127 billion at 1989 prices

(airport $35 billion,

port $50 billion, transport $27