The final obstacle to the delayed Container Terminal 9 agreement will be resolved in the next few weeks, Port and Maritime Board secretary Richard Yuen Ming-fai says.
He said the negotiations between Modern Terminals and Asia Container Terminals over the berth-swapping arrangements involving exchange of assets and the premium ACT would pay MTL would be concluded soon.
Even if the parties reached agreement and the CT9 deal was sealed, MTL and Hong Kong International Terminals need not proceed with the project immediately.
Operators have convinced the Government to leave open a key aspect of the CT9 contract.
If the operators were unable to secure bank finance for the $10 billion project because of uncertainty about throughput growth, the start date could, with government approval, be postponed for an unspecified period.
The CT9 contract sets a 2001 start for the first berth and a roll-out over the next three years for the subsequent three berths.
