TNAG-2215-FCO40-3182-Address-by-David-Wilson--Governor-of-Hong-Kong--to-the-Legis-1991 — Page 32

-1991

17:01

SECRETARIAT D.A.U.

+852 845 7895

P.19

29

Over the next few months, tenders will also be

invited for other important transport projects,

including the North Lantau Expressway.

Tenders for preparatory works for the new town

of Tung Chung will be invited before the end of

this month.

Finally, design work is well advanced for the

Expressway and the Airport

West

Kowloon

Railway.

54.

Some people remain concerned about whether we can

afford these massive projects. I believe that we both can

and must. Of course we need to plan our financing of these

and ether major projects prudently. Costs must be

controlled, and budgets rigorously monitored. But it is

worth remembering that our current expectation is that the

Airport Core Programme will absorb only about one-quarter

of our total capital expenditure during the six years

needed for

be

the

period.

construction.

This level of expenditure will

equivalent of about 2% of annual GDP over the same

This

is

only a little higher than the

/corresponding