fransport infrastructure
Road and rail transport links to the new airport are obviously required and a fixed crossing to Lantau Island will be needed to carry Buch links.
The total estimated (1989) cost of all transport infrastructure is HK$27 billion. Of this we expect 50%/ will be provided by private sector investment, leaving a Government share of about HK$13:5 billion.
5.
Lantau Urban Development
The Government will be responsible for creating the land and providing the infrastructure for residential, commercial and industrial areas on Lantau at an estimated cost of $15 billion. port, will be incremental development phased to
This, like the
Beet domand
Overall cost in relation to HKG's financial position
The Hong Kong Government has always pursued a cauticus and prudent fiscal policy.
If HKG thought the costs of a development project were becoming unmanageable, they would, of course, be re-examined.
The preceding review indicates total potential expenditure for Hong Kong Government of about HK$50 billion, over a period Of 15 years. This can be compared to current reserves of over HKS72 billion,
billion, excluding the SARG Land Fund, which currently stands at about $20 billion.
The Government will not, of
course, pay for its share simply by spending its reserves but will maximise the amount Cerived frca general revenue and external sources (e.g. loans) in order to maintain the reserves
at a prudent laval
Eccaomic Services Branch
Government Secretariat
ES3 CR 8/951/00
Maude
3 July 1990
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