·2·
3.
(0£ the above projects, only the airport,
Lantau Expressway, Airport Railway, Lantau
Crossing and Tung Chung Development-Phase I are
included in the PADS. The others are not because
they are needed for Hong Kong's development
needs even without PADS.)
North
Fixed
For most of these projects, site investigations and
detailed design work are either in hand or about to start.
Until all of this work is completed, the detailed scope of some
of the ACP projects and their estimated costs cannot be
finalised. However, a description of the preliminary scope of
these projects is at Enclosure 1.
Financing Strategy
4.
to:
The Government's financing strategy for the ACP aims
(a)
keep overall
costs down while achieving an efficient
airport and supporting
infrastructure in the most
5.
(b)
cost-effective manner; and
keep
public sector costs to the minimum by encouraging
private sector participation where this makes
financial sense.
In accordance with these principles, the Government
originally identified four projects in the ACP as having
potential for private sector participation, namely, the airport, the Lantau Fixed Crossing, the Airport Railway, and the Western Harbour Crossing. Financial advisers were appointed by the Government to assess in greater detail the commercial viability of the first three projects and the preferred mode of
privatisation.
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