ENG-1966 — Page 84

INDUSTRY AND TRADE

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the establishment of one factory to manufacture spiral welded pipes of all dimensions, and another to produce extruded aluminium fittings and sections.

In similar fashion, the expansion of light industry has stimulated the manufacture of machinery and parts. Built originally for domestic industry, Hong Kong-made machine tools are now exported to over 70 countries. Of particular importance are plastic blow moulding and injection moulding machines, power presses, lathes and planing machines.

Aircraft engineering is another important industry; one large establishment provides maintenance and repair facilities for most airlines using Hong Kong Airport. Facilities are available for complete airframe and engine overhaul, and work has been received from 38 countries as far afield as Australia and Canada. The Colony also manufactures much of its requirement for cement, most of the raw materials being imported. Of potential significance for the future is the proposal by an American firm to set up an oil refinery in Hong Kong. Although it may take some time before production can commence, the refinery, when established, will initially produce petroleum for vehicular use, kerosene, diesel oils and lubricating oils for the domestic market and for export.

LAND FOR INDUSTRY

Government land development programmes include the zoning of land for industrial use. Large-scale reclamation schemes are being carried out at several places. Reclamation at Kwun Tong, which began in 1955, is now complete. The scheme provided 641 acres of which 154 acres are solely for industrial use. At the end of the year 468 factories were already operating, employing 49,373 workers or 11.6 per cent of Hong Kong's industrial work force. Another major development scheme is in progress at Kwai Chung. Long-term development plans of two new towns, Castle Peak and Sha Tin, have been approved in principle.

In the development areas of Kwun Tong and the Tsuen Wan complex, purchasers of industrial land leases can pay by instalments over 20 years. Purchasers of industrial land elsewhere in the Colony can pay in four equal interest-free instalments, spread over two years. During 1966, there was less demand for land for industrial develop- ment and fewer sites were auctioned than in the previous year.