TNAG-2140-FCO40-3059-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 67

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billion,

billion).

plus

Lantau development and utilities

$15

The overall costs are high, but not so high that

Hong Kong cannot afford them.

It should be noted that

expenditure will be spread over a period of about fifteen years, if not longer, depending on demand and will be shared between the public and private sectors. Implementation of

the various works will follow more detailed investigations,

feasibility and design studies drawing on

engineering

foreign and

local expertise.

Many of these studies are

currently in progress. There will be rigorous control over

Restraint will be exercised in

public expenditure.

providing resources for other development projects;

expenditure on

existing service will be closely

scrutinized.

It is not possible at this stage to state

precisely what our financing package will be. Over the

coming year, we will be refining the detailed options with

the help of an overall financial adviser to be appointed

shortly.

5.

However, we already have a reasonably clear idea of

which projects will generate enough revenue to have private

sector involvement and of the approximate split between

public and private sector, based on internal studies plus

the views of merchant bank advisers. Subject to more

detailed studies, the split between public and private

sector is likely to be: