TNAG-2146-FCO40-3065-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-1990 — Page 163

PURPOSE

Annex A

BRIEFING PAPER ON THE

FINANCIAL ASPECTS OF THE NEW AIRPORT

AND RELATED PROJECTS

promised at the briefing on 3 October 1990, this paper

out the financial

aspects of the

airport

and related

As

sets

projects.

BACKGROUND

(a) Location of the new airport

2.

Development

Strategy

In 1988/89, the Port and Airport (PADS) Consultancy Study examined a number of initial airport and identified the following three main airport

sites

strategies

3.

(a) airport remaining at Kai Tak (as the base strategy for

comparison);

(b)

a new airport at Chek Lap Kok (CLK Strategy); and

(c) a new airport

at

the West Harbour between the Lamma

and Lantau Islands (West Harbour Strategy).

The decision to build the new airport at Chek Lap Kok was this strategy had performed better than the West Harbour

because

strategy on the following key criteria

-

(a) greater estimated net economic benefits;

(b)

earlier commissioning by around two years;

(c)

lower estimated construction costs (by about 20%);