TNAG-2143-FCO40-3062-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 76

1998-10-05 17:28

G.I.S

P.15

Despite those

perceived

uncertainties,

and [

stress the word 'perceived' because we believe that some of

been

thew dre unfounded, we have no doubt that there would have

substantial response to our call for BOT bids. Bul

the commercial world works on the principle of 'the higher

the risk the greater the reward' with the likely result

project would have become more costly in terms of

that the

Government

support than we

would thus have become more

believe to be justitied.

t

expensive for the Hong Kong

tax payer.

An important element of the Port and Airport

Development Strategy is the

private sector financing.

than

opportunity it provides for

The cost of the Lantau bridge

represents less

10% of the whole project and

substantial opportunities remain for private sector

involvement. in such major projects as the airport itself.

airport railway and the third Cross Harbour

believe that the certainty injected into the

today will do much to

these other projects, and we will

the port, the

Tunnel.

We

whole project by our

encourage investment

Of

decision

in

course do

all

WO

can

10 facilitate

this.