TNAG-2460-FCO40-3581-Hong-Kong-annual-report-for-1992-1992 — Page 20

X. PORT AND AIRPORT DEVELOPMENT

(a)

Airport Core Programme

the Hong Kong

Government

made

During 1992 considerable progress in implementing the ten projects which comprised the HK$112 billion (in 1991 prices) Airport Core Programme. Discussions continued with the Chinese Government in the wake of the Memorandum of Understanding signed by the British and Chinese Prime Ministers in September 1991, with the aim of agreeing the overall financing arrangements for the project. The Airport Committee under the Joint Liaison Group held four formal meetings and there were frequent informal contacts between the two sides.

2.

Planning and construction work on the seven of the projects that are to be funded out of the Hong Kong Government's Capital Works Reserve Fund proceeded on schedule and within the budgetary targets set down in 1991. In particular, contracts were let to construct the West Kowloon Reclamation, the North

bridges and viaducts

Crossing.

Lantau Expressway, and the series of

that comprise the Lantau Fixed Planning and design work proceeded according to timetable on the first phase of Tung Chung new town, the Route 3 highway and West Kowloon Expressway, and Phase I of the Central and Wanchai Reclamation. x contracts were let during the year, worth $ x billion, all within their original budgetary projections. By the end of 1992 some 60% (by value) of all the Government funded works contracts under the Airport Core Programme had been let.

3.

The Provisional Airport Authority and the Mass Transit Railway Corporation continued to take forward the planning and physical implementation of the airport at Chek Lap Kok and the airport railway as far as was practically possible. The Airport Master Plan and advance works at the airport site were completed during the first half of the year and an outline financing plan for the project was agreed the Hong Kong Government and the Provisional Airport

between