*VERMENT HOUSE HONG KONG.
THU 17 SEP 92 11:08
PG.04
5
PRESS RELEASE
HKA 182/5
NEW FINANCING PROPOSALS FOR THE AIRPORT
AND THE AIRPORT RAILWAY
New
financing
Railway
proposals for the Airport and the
Airport
were presented yesterday to the Chinese side of the Airport Committee. They have been drawn up in response to proposals put forward by the Chinese side on September 9. This morning the proposals were explained το members of the LegCo Ad Нос Committee and the Airport
Consultative Committee.
"We have put these proposals forward as constructive response. to suggestions made by the
Chinese side on September 9," Mr K.Y.Yeung, Secretary for the Treasury, said today. "We have
accepted the suggestions put forward by the Chinese side and we hope that, by building on them, we have paved the way for early agreement on the financing of the Airport' and the Airport Railway, The proposals would also provide the AA and the MTRC with a package which matches increased funds against forecast expenditure.
"The proposals would involve reinvesting all the land premia payable by the MTRC as additional equity in the two corporations. This would, among_
things, allow callable equity to be
dropped," said Mr Yeung.
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