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69.      Capital expenditure is incurred mainly to finance investments in infrastructure and the like. We will continue to provide quality infrastructure to enhance the attractiveness of Hong Kong as a centre for international trade, transportation and communications, and to meet our future development needs.

70.      Capital expenditure for 2004-05 is estimated to be $46.5 billion. Over the next five years, capital expenditure will amount to $43 billion a year on average, of which around $29 billion will be allocated to works projects.

71.      Last year, we proposed a trial scheme for the private sector to finance, build and manage recreational and cultural facilities under Public Private Partnerships (PPP). The Home Affairs Bureau has identified two pilot projects for private sector participation. One comprises the construction of an ice sports centre, a tenpin bowling centre and a town park in Tseung Kwan O. The other project is for a leisure and cultural centre in Kwun Tong. We have drawn up development plans for these two projects, and will invite the private sector to finance, build and operate the facilities after consulting the District Councils concerned and obtaining the support of the Town Planning Board. Moreover, in response to suggestions from many Members, we have further expanded the scope of our pilot PPP projects. We have recently completed a preliminary feasibility study on the reprovisioning of the Sha Tin Water Treatment Works through PPP at a cost of some $6 billion, and the results are encouraging. We are now considering the way forward in the light of these.

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2003 | Important notices
Last revision date : 10 March, 2004