TNAG-2141-FCO40-3060-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 52

FURT AND AIRPUKT DEVELOPMENT STRATEGY

Introduction

Hong Kong is an important centre for world and regional finance.

trade, Banufacturing and tourisa. Το maintain its economic success, it is essential that Hong Kong's port and airport are capable of handling the high volumes of traffic which are forecast to occur in the next decades. Το Beet these requirements the Hong Kong Government produced the Port and Airport Development Strategy, following 17 years of intermittent study on the airport site in particular. It is a coherent overall plan for Hong Kong's future needs, but its component parts are different in nature and will be financed by different methods. They are therefore described separately helow

2.

Airport.

(i)

Need for a new airport

Even with the benefit of the current HK$3.6 billion expansion package, Kai Tak

between 1994 and

new airport were

airport will reach saturation point somewhere

1996. Consultants have estimated that if no

built and Kai Tak were saturated between 1006

would lose business potentially worth This would severely damage

and 2010, Hong Kons

HK$101 billion (at 11989 prices).

Hong Kong's economy, and its competitive position in the region.

(ii)

Site for a nev airport

Since 1973 when Our studies began every possible site for a

replacement airport has been examined.

About 30 sites have heen

The more serious

locked at in various degrees of detail.

alternatives to Chek I:ap Kok. primarily sites in the Western Harbour and Deep Ray, have been examined at length. Rut all the

alternatives were found to be less attractive than Chek Lap Kok.

(iii)

Cost and Financing of the new airport

The

rough estimate of the

cost of the airport as provided by