Refinancing the western harbour crossing hong kong

This was to replace Kai Tak International Airport, which would reach maximum capacity in the mid s.

Refinancing the western harbour crossing hong kong

History[ edit ] The area around the Hong Kong Island entrance of the Cross Harbour Tunnel in the s; the tunnel was under construction. Increasing population and improving prosperity made the construction of further tunnels a necessity. For all three tunnels, the government opted for a year private-sector franchise based on a build—operate—transfer model.

Two reasons include the less convenient locations of the other two tunnels compared with the Cross-Harbour Tunnel, and more importantly the control of new tunnels by the powerful state-owned investment group CITIC Pacific.

In this case, by adding additional tunnels, it may have encouraged more people to drive overall, because of a perception that there is increased road capacity. The Government of Hong Kong granted the franchises by enacting legislation that also fixed the revenue and fare model of the tunnel and is thus powerless to prevent the sharp increase in tolls despite public uproar when toll increases were applied for.

However, the Hong Kong government suffered from the East Asian financial crisis inand all major projects were put on hold.

The call for a fourth tunnel was revived to counter the problem. A new proposal stated that the new crossing would be an immersed tube joining a reclamation site off Hung Hom with Victoria Park in Causeway Bay.

The toll booths would be placed at the Kowloon end, and would join Route 5 there. This proposal was deemed the most likely to happen. Demand[ edit ] According to the annual traffic census published by the Transport Department, Inthe average daily vehicular traffic crossing the harbour amounted totrips, a year-on-year increase of 2.

Total trips made amounted to According to the consultancy report inthe CHT enjoys a daily traffic of approximatelyvehicle-trips, far exceeding the tunnel's design capacity of 78, trips per day. · Unlike all the other ACP projects, the Western Harbour Crossing (WHC), now more often called the Western Harbour Tunnel (WHT), is a franchised infrastructure, completely financed by the private sector at a cost of HK$7 Addresses the operational phase of a project to private management in urban infrastructure, Hong Kong Western Harbour Crossing, a tunnel toll motorway West Kowloon to Sai Ying Pun on Hong Kong Island, developed as part of the prestigious AirPort Base supports the redevelopment of Hong Kong Please click on the choices below to learn more about this product.

Refinancing the western harbour crossing hong kong

Refinancing the Western Harbour Crossing, Hong Kong Author(s): Mary Ho and Frederik This year, the lunar year of the rooster, could be the declared the year of China as Xi Jinping consolidates its power, China takes a larger role in the global community, and its .

· Cross Harbour Tunnel^ Eastern Harbour Crossing Western Harbour Crossing Tate' s Cairn Tunnel Tai Lam Tunnel Lantau Link #^ Motor cycles, motor tricycles: $8: $ Government vehicles, ambulances or vehicles used by officers of the Fire Services Department, the Hong Kong Police Force, the Customs and Excise Department or the Correctional SSA is a non for profit membership organisation for the UK marine industry.

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