Work tipped to peak next year
CONSTRUCTION of the new airport will peak between late next year and early 1996, according to the Financial Secretary, Sir Hamish Macleod.
Sir Hamish yesterday tabled the annual report of the Provisional Airport Authority (PAA), which he hoped would be the last before a permanent airport management body is set up.
The report said the PAA had committed 24 per cent of their total contribution to building the new airport despite the lack of Sino-British agreement.
Last year, a total of $758 million worth of projects were committed. These related mainly to design contracts for airfield utilities and other elements of the airport infrastructure, and to office costs.
The total commitment since 1990 was about $12.2 billion.
Funding for the PAA has been allocated by the Government before China's endorsement is obtained.
So far, the Legislative Council has approved $16.26 billion for the provisional body, while another $15.18 billion is in the pipeline pending the approval of Legco on July 1.
Sir Hamish said the PAA was ready to intensify its activities in commercial, operational, and financial planning following the achievements made in the past year.
''It is also ready to undertake the next major step in construction of this project, comprising the terminal building, the first runway and other infrastructure facilities.''