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7 July 1992
CONFIDENTIAL
HKA 182/3
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XCCI(92)41
Copy No.
149
斗
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NOTE FOR EXECUTIVE COUNCIL
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WESTERN HARBOUR CROSSING
TENDER SUBMISSION
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INTRODUCTION
Government has received one bid in response to the invitation to tender for the Western Harbour Crossing on a build, operate and transfer (BOT) basis. This note summarises the present position and maps out the next steps in the privatisation exercise.
BACKGROUND
Decision to Privatise
2
On 14 January 1992, after considering memorandum XCC(92)11, the Council ADVISED and the Governor ORDERED, inter alia, that the Western Harbour Crossing should be privatised by means of open and competitive bidding, under a BOT arrangement. The approach was proposed because it was considered that the project could provide an attractive return on investment and that there should be sufficient private sector interest to allow for open competitive bidding. Such an approach would also be perceived by the market and the public as fair and equitable.
3
Tenders were invited on 6 March 1992. By the closing date of 3 July, we received one tender submitted by the Western Harbour Tunnel Company Limited. This is a consortium led by the Cross Harbour Tunnel Company Limited (CHTC), and China International Trust & Investment Corporation Hong Kong (Holdings) Ltd (CITIC). In addition, unsolicited proposals were received from two contractor groups led by the Aoki Corporation and Leighton Contractors Asia Ltd respectively, to design and construct the crossing (i.e. not a BOT arrangement).
Executive Council
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