TNAG-2413-FCO40-3515-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-fina-1992 — Page 61

GOVERMENT HOUSE HONG KONG.

MON 30 MAR 92 10:54

PG.28

27

severe

any

circumstances, it is expected that the liability for

Government contingent funding support for the project

will fall away before then.

50.

After

the

completion

of

the

project

and

the

repayment of initial project debt i.e. by about 2005 in the 'base case', the Government of Hong Kong can look forward to

its investment

a

return steady

on

in

terms of dividend

the by

AA.

In the "base case" scenario,

the

SAR is

receive about $56

payments

Government of the

billion $140

But much more

to expected

billion in dividend at money of the day prices by 2010.

Over the following ten years, up to 2020, further dividends

totalling about

are expected.

than that, the Government will have a facility which will be crucial to facilitating the future economic growth of Hong

The economic disbenefits of failing to have completed

a new airport have been estimated to run into hundreds of

billions of dollars.

Kong.

The level

Of Government

funding

support required for this project as set out in this paper

should also be seen in this context to appreciate the full

of this approach in terms of the wider

cost-effectiveness

benefits to Hong Kong's economy as a whole.

ESB/30.3.92

(DSES/A/FINAGR-7)