TNAG-2142-FCO40-3061-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 71

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businessmen, financiers and tourists would be forced to take

their business 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.

have traditionally been

Growth forecasts have

construction of Container

already triggered

triggered work for the

Terminal 8 on Stonecutters Island

Terminal 9 on Tsing Yi.

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 The timescale for new port development will be therefore, not possible to be

expenditure. In any event,

nature.

It is,

driven by demand. certain about the timing of

costs involved

will continue

to be me= largely by the

private sector based on sound commercial judgement.

Financial Considerations

rough order of capital costs

of

the whole

estimated to be HK$127 billion at 1989 prices

4.

A very

strategy

is

(airport

$35 billion,

port

$50 billion, transport $27