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  • Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megaproject

    Chief Executive Donald Tsang Yam- kuen is expected to announce a government investment of HK$200 billion to expedite a basket of infrastructural mega projects in his policy address today.

    His aim is to create jobs, stimulate the economy, and foster greater integration with the mainland amid robust and rapid economic and infrastructural progress over the border.
    "We are sitting on this huge reserve and the best way is to give back to the people or spend it on much needed projects," Lee said.


    Analysts agreed Tsang is unlikely to say anything concrete on democratic reform and that he will use the three- month green paper consultation, which expires today, to sidestep the issue.


    Analysts believe Tsang will also outline strategies to enhance the city's competitiveness and strengthen its status as a top financial center to fight off threats from Shanghai and Macau, which just opened the Venetian Macao.


    "Facing the threat from Macau, Hong Kong's competitiveness is decreasing. A lot of people are worried about being marginalized. This is something that Donald Tsang would have to address," said James Sung Lap-kung, political professor at City University.


    Tsang's expected HK$200 billion investment includes:


    HK$30 billion for a Guangzhou- Shenzhen-Hong Kong Express Rail Link (previously known as Regional Express) to be completed by 2010;


    HK$60 billion for the Hong Kong-Macau-Zhuhai Bridge (up to 3,000 jobs) to open in 2009;


    HK$20.1 billion for the Tuen Mun West Corridor with the funding proposal at the end of this year, to be completed in 2016;


    HK$6 billion to HK$7 billion for a South Island Line (6,000 jobs) to be completed in 2015;


    HK$30 billion for a Sha Tin- Central Line (12,000 jobs);


    HK$9.8 billion for the Southeast Kowloon redevelopment (85,400 jobs);


    HK$19 billion for the West Kowloon Development (11,000 jobs); and


    HK$3.2 billion for the Cruise Pier (6,900-10,900 jobs).
    Source : Standard News

    More details will be released after the policy address of the Chief Executive of Hong Kong SAR today.

    推動十項大型規劃及基建項目,包括: 港珠澳大橋
    廣深港高速鐵路
    沙田至中環線
    地鐵南港島線
    北環線
    屯門至赤 鱲 角連接路及屯門東西繞道
    四號幹線
    東南九龍發展計劃
    西九龍文娛藝術區
    大嶼山發展概念計劃
      除了以上十項規劃、基建工程外,民建聯亦希望政府盡快開放邊境禁區、研究港島南區的可持續發展(香港仔 )、以及其他地方性的配套,令到各區也能均衡發展,為當區居民提供就業機會,減免跨區工作所帶來的經濟負擔 。
    Source: DAB

    Translation:

    DAB Party of Hong Kong made a proposal to HK Government.


    10 major infrastructural Projects proposed:

    HK-Zhuhai-Macau Mega Bridge
    HK-Shenzhen-GuangZhou Express Rail
    Shatin-Central Line
    South Island Line
    Northern Line
    Tuen Mun to Chep Lap Kok Link/Tuen Mun by-pass (the idea is to link up Hong Kong International Airport with Shenzhen Airport in the future)
    Route No. 4
    South East Kowloon Development (Kai Tak Development including Cruise Terminal)
    West Kowloon Cultural District
    Lantau Island Development Concept Plan (including Tourism Node at Sunny Bay and Tung Chung etc...)

    Plus Closed Frontier Area Development, Aberdeen Tourism Node(Aberdeen Fisherman's Wharf ???), etc..
    Last edited by PennysBayChronicle; 10-10-2007, 07:19 AM.

  • #2
    Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

    No money for Disneyland?

    Comment


    • #3
      Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

      Originally posted by CaliforniaAdventurer View Post
      No money for Disneyland?

      Probably.

      Might be the reason why HK Goverment is willing to sell down its stake at HKDL.

      We have to wait and see.

      It will be the biggest investment by HK Government since the "Rose Garden" project(including HK International Airport etc) in the 90's.
      Last edited by PennysBayChronicle; 10-09-2007, 01:47 PM.

      Comment


      • #4
        Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

        Hong Kong Macau Zhuhai bridge to open in 2009 <--- If it opens in 2009, then I will not drive or ride anything on it.

        It is impossible to have it built in two years.
        Jul 1992: Disneyland Paris
        Apr 2006: Hong Kong Disneyland
        Jul 2010: Disneyland and Disney's California Adventure
        Mar 2011: Hong Kong Disneyland
        Jul 2013: Tokyo Disneyland and Tokyo DisneySea
        Sep 2013: Hong Kong Disneyland
        Jul 2014: Disney California Adventure

        Comment


        • #5
          Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

          Originally posted by Asa View Post
          Hong Kong Macau Zhuhai bridge to open in 2009 <--- If it opens in 2009, then I will not drive or ride anything on it.

          It is impossible to have it built in two years.
          I believe they mean the construction will begin in 2009.

          CE offers massive spending on projects and tax cuts


          2007-10-10 HKT 12:01

          Donald Tsang arriving to deliver his policy address to legislators. Photo: RTHK.

          The Chief Executive, Donald Tsang, has pledged to spend billions of dollars on massive infrastructure projects to boost economic development and create jobs.

          In his first policy address since being re-elected - entitled A New Direction for Hong Kong - Mr Tsang also announced tax cuts in the next financial year, and the introduction of 12 years of free education. He said the main infastructure projects would include the Hong Kong-Zhuhai bridge, a new rail link between Hong Kong and Guangdong, and the Shatin-Central and South Island lines. Mr Tsang says that these - together with other projects - will add $100-billion to the economy annually, and produce an extra 250,000 jobs. Salaries tax will be reduced to 15 percent, and profits tax to 16.5 percent, with further cuts in store if the economy remains strong. Mr Tsang said the Government won't try to narrow the wealth gap by redistributing public money, but it will create the social conditions to help low-income families. One key measure is 12 years of free education for all children, starting in the next school year. Small class education will also be implemented in phases.

          Ten major infrastructure projects to spur economy


          2007-10-10 HKT 13:24

          Plans for massive spending on infrastructure projects. Photo: RTHK.

          The government is to push ahead with ten major infrastructure projects to spur economic expansion. The Chief Executive, Donald Tsang, said in his policy address that the developments would involve both domestic and cross-border projects. He said this would create 250,000 jobs, and benefit the economy by an estimated $100- billion a year.
          Source : RTHK News
          Last edited by PennysBayChronicle; 10-09-2007, 09:42 PM.

          Comment


          • #6
            Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

            Again... how is this related to HKDL? You need to be more specific and provide your input of the subject without copying from other sources. PLEASE! This is a HK DISNEYLAND forum.

            Comment


            • #7
              Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

              I believe Hong Kong International Theme Parks Ltd will make announcement on expanding HKDL soon.

              With all those infrastructural mega projects in the pipeline, it is a big opportunity for The Walt Disney Company.

              It would be foolish not to expand HKDL.

              Hong Kong Plus Macau would be the top Tourist Destinations in Asia Pacific Region.
              Last edited by PennysBayChronicle; 10-10-2007, 12:26 AM.

              Comment


              • #8
                Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

                Infrastructure projects to cost $250-billion


                The Chief Executive, Donald Tsang, has announced a $250-billion infrastructure package as the backbone of his development plans for Hong Kong for the next five years. In the first policy address of his new term, he said the Government would push for the construction of ten major projects - including a major bridge spanning Hong Kong, Zhuhai and Macau, a rail link with Guangdong, and the Shatin-Central and South Island lines. Speaking at a press conference after his policy address, Mr Tsang denied the aggressive spending marked a departure from the Government's non-interventionist policy.
                Source : RTHK News


                曾 蔭 權 : 十 大 基 建 涉 及 約 2500 億 元 2007-10-10 HKT 15:58
                行 政 長 官 曾 蔭 權 表 示 , 粗 略 估 計 在 施 政 報 告 中 所 提 及 的 10 項 基 建 約 需 2500 億 元 , 當 中 部 分 亦 包 括 私 人 參 與 項 目 。 曾 蔭 權 指 出 , 隨 著 港 深 兩 地 人 流 、 物 流 互 通 , 必 須 要 發 展 基 建 聯 繫 , 兩 地 政 府 應 做 應 該 做 的 事 , 例 如 興 建 連 接 兩 地 機 場 的 鐵 路 , 河 套 區 的 發 展 亦 已 討 論 多 時 , 是 時 候 研 究 落 實 時 間 。

                Source : RTHK News


                Translation:

                Estimated Overall Cost for 10 Infrastructure mega project is around HK$250 billion, but this figure also includes part of the investment by non-government/private organizations.

                but he didn't elaborate on the details such as what non-government/private organizations/companies they are......and what projects those companies will get involved.
                Last edited by PennysBayChronicle; 10-10-2007, 01:07 AM.

                Comment


                • #9
                  Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

                  Once again thanks to you HongKongDisneyland for providing interesting information, and taking absolute zero notice of what others on here say. Even through not directly involved with the park itself the impact of this annoucement could efect HKDL in the years to come. I like the fact you can come on this forum and discuss all aspects of Hong Kong tourism and not just Disney directly. As who visits Hong Kong just for Disney right.
                  Follow me on Twitter http://www.twitter.com/malin1804

                  Comment


                  • #10
                    Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

                    From what I understand the news is only the HK Govt is pumping money into infrastructure projects providing that the HK economy remains strong and robust. So far no money slated for HKDL. I agree with TDLFan, that this news contains zilch on Disney but it proves on thing that the govt is willing to spend money but not Disney.

                    Comment


                    • #11
                      Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

                      Perhaps it is time for a sub forum:

                      MiceChat ⇒ Celebrate the Parks ⇒ Hong Kong Disneyland Resort ⇒ Hong Kong SAR/Google News

                      Seriously, I'm not sure where this kind of news would fit beyond Off Topic, as it isn't directly Disney related at all. I'm not saying that this news shouldn't be here, as there are links worth discussing (the willingness to spend money on things NOT Disney, for example). However, it might be helpful if the initial poster made it clear what they thought was the Disney link. It would give us something useful to discuss, other than whether it should be here or not.
                      I don't mean to sound bitter, cold, or cruel, but I am, so that's how it comes out. - Bill Hicks

                      Comment


                      • #12
                        Re: Hong Kong to spend HK$200 billion to expedite a basket of infrastructural megapro

                        “The more you like yourself, the less you are like anyone else, which makes you unique.” Walt Disney


                        I do believe this topic is related to HKDL, although not directly related.

                        Hong Kong International Theme Parks Ltd hasn't made any announcement yet (regarding concrete Expansion Plan).

                        This announcement by the Hong Kong Government just serves as a prelude to a formal announcement by HKITP.

                        Yes, I expect them to announce something in the near future. Just wait and see.

                        As Malin pointed out, there will be enormous impact on HKDL in the years to come.

                        The announcement today is something like a proof of confidence in Hong Kong. something to make Disney feel comfortable with their further investment for expansion.

                        that would be icing on the cake, wouldn't it?
                        Last edited by PennysBayChronicle; 10-10-2007, 06:47 AM.

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