TNAG-2141-FCO40-3060-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 148

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A. I think no, what I am saying is that June the 4th is now some time ago. Undoubtedly, and it was a very unhappy time, undoubtedly it created a climate which did not make life any easier. What I am suggesting to you is that the climate is improving and that hopefully we will be getting the support for this project that we need. Is that clear enough?

Q19. Guardian. Can I just come back to the question of

Are you financing for a moment, the nuts and bolts. thinking in terms of new financial instruments from the government to finance the airport. I mean, for example, is it possible for the government to issue bonds which would have a maturity date beyond 97? Are you looking at those possibilities?

A. Not at the moment. But I mean we certainly will be looking at that sort of thing. But we haven't got in place our overall financial advisers. But that sort of instrument

is a possibility. I think it is worth remembering that a lot of the financing will be carried out by the airport authority which will be a separate statutory corporation just like the MTRC and the MTRC has issued bonds, I mean it is a possibility that bonds will be issued.

Q. After 1997?

A.

That would not cause problems.

Q20. Hong Kong Economic Times. Sir Piers, when talking of the support from China are you particularly talking about it seems very the political support, from China? Because unlikely that China can give sufficient economic support to the airport project.

A. Give economic support? I think what one needs is this, you need support from China to the extent that they say they There are many ways are happy with this particular project.

I am not

in which we can involve China in the project. talking, necessarily, about borrowing money from China. There are ways in which we can involve them in the project. Those ways have not yet been addressed or worked out as yet.

Q...But just they give the green light to the project?

-H

A. As I say, they have expressed some doubts publicly. They have expressed some worries, as you know you have reported those worries. We are addressing those worries and once those worries have been successfully addressed I would expect them to say, yes, they support the project.