Page 79 of 498
498
Page 79 of 498
76
HONG KONG URBAN COUNCIL
First of all, according to an informal estimate, the project could cost $1 billion. Secondly, the Stadium would have to be closed for some time during the construction period. Thirdly, after construction work, the turf might not grow satisfactorily for the staging of other sports events. Due to the above-mentioned restrictions, the Board has yet to formally discuss the option. However, members of the Board through private contacts feel the option would be hard to realise under the present circumstances. We are still hoping for a new technology on the building of a sound-proof roof. We are closely monitoring new products on the market supported by other technologies. Our recent discussions therefore only focused on ways to improve the situation, by lowering the noise level under the existing conditions. Members should be aware of this point. As for practical measures to improve noise nuisance, nothing can be confirmed at this stage and we are still looking for appropriate technological solutions.
MR. ERIC WONG CHUNG-KI (in Cantonese):-I hope Mr. Ronnie WONG can tell us about the financial provision involved for the basic installation of a roof as given in the proposals by other companies that contacted the Hong Kong Stadium Board of Governors. Did the Board consider the design of such roof structure? Apart from setting up a sound system at the Stadium, have we in fact given up on the design of a roof to cover the entire Stadium?
MR. RONNIE WONG MAN-CHIU (in Cantonese):-I know that at least 3 companies have made proposals to the Board of Governors: one French, one Japanese and one Chinese ship building science company. The budgets they maintained were no less than $700 or $800 millions, with one reaching $1 billion. There were suggestions that, after construction work, the management right and proceeds of the Stadium should be handed over to them. In fact, the involvements were very complicated. We did not continue negotiations with them. This does not mean that we have given up on noise abatement options or the idea of putting a roof over the Stadium. We are simply hoping for a financially viable proposal that can effectively reduce the noise level before considering it seriously.
MR. STANLEY NG WING-FAI (in Cantonese):-There were a lot of disputes over the expenditure of the Hong Kong Stadium. The question of whether it was an expenditure or a loan has yet to be resolved. I have heard from the Chairman and members of the Board of Governors that the budgets of the proposals vary from $200 million to $1 billion. I would like to ask Mr. Ronnie Wong whether the various options were assessed from the angle of capital investment, that is from the perspective of investing funds and the estimated rate of return. If the options have so far not been compared from the perspective of investments that would bring in proceeds with the rates of return, will they be considered in that light in future?
Page 79 of 498
498
Page 79 of 498
76
HONG KONG URBAN COUNCIL
First of all, according to an informal estimate, the project could cost $1 billion. Secondly, the Stadium would have to be closed for some time during the construction period. Thirdly, after construction work, the turf might not grow satisfactorily for the staging of other sports events. Due to the above- mentioned restrictions, the Board has yet to formally discuss the option. However, members of the Board through private contacts feel the option would be hard to realise under the present circumstances. We are still hoping for a new technology on the building of a sound-proof roof. We are closely monitoring new products on the market supported by other technologies. Our recent discussions therefore only focused on ways to improve the situation, by lowering the noise level under the existing conditions. Members should be aware of this point. As for practical measures to improve noise nuisance nothing can be confirmed at this stage and we are still looking for appropriate technological solutions.
MR. ERIC WONG CHUNG-KI (in Cantonese):-I hope Mr. Ronnie WONG can tell us about the financial provision involved for the basic installation of a roof as given in the proposals by other companies that contacted the Hong Kong Stadium Board of Governors. Did the Board consider the design of such roof structure? Apart from setting up a sound system at the Stadium, have we in fact given up on the design of a roof to cover the entire Stadium?
MR. RONNIE WONG MAN-CHIU (in Cantonese):-I know that at least 3 companies have made proposals to the Board of Governors: one French, one Japanese and one Chinese ship building science company. The budgets they maintained were no less than $700 or $800 millions, with one reaching $1 billion. There were suggestions that, after construction work, the management right and proceeds of the Stadium should be handed over to them. In fact, the involvements were very complicated. We did not continue negotiations with them. This does not mean that we have given up on noise abatement options or the idea of putting a roof over the Stadium. We are simply hoping for a financially viable proposal that can effectively reduce the noise level before considering it serious.
MR. STANLEY NG WING-FAI (in Cantonese):-There were a lot of disputes over the expenditure of the Hong Kong Stadium. The question of whether it was an expenditure or a loan has yet to be resolved. I have heard from the Chairman and members of the Board of Governors that the budgets of the proposals vary from $200 million to $1 billion. I would like to ask Mr. Ronnie Wong whether the various options were assessed from the angle of capital investment, that is from the perspective of investing funds and the estimated rate of return. If the options have so far not been compared from the perspective of investments that would bring in proceeds with the rates of return, will they be considered in that light in future?
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