Implementing and Financing the ACP

The ACP is implemented by the government, two statutory bodies wholly
owned by the government, and a franchisee. The government is
responsible for seven of the 10 projects, covering the two land
reclamations, the transport corridor and Tung Chung new town. The
Airport Authority (AA) is responsible for providing, developing, operating
and maintaining the new airport. The MTR Corporation is responsible for
building, financing and operating the AR. The Western Harbour Tunnel
Company Limited (WHTC) built and operates the Western Harbour
Crossing (WHC) under a 30-year franchise.

The ACP is projected to cost $155.3 billion in money-of-the-day values.
Of this amount, the estimates for the new airport, AR and WHC are $70.2
billion, $34 billion and $6.5 billion respectively, and $44.6 billion for the
seven other government ACP projects.

The government has completed equity injection totalling $36.6 billion and
$23.7 billion into the new airport and the AR respectively. It will meet a
total of $109.9 billion, or more than 70 per cent of the total ACP budget,
in the form of direct funding of government works projects ($49.6 billion)
and through equity injection ($60.3 billion) into the AA and the MTR
Corporation. The remaining 30 per cent comes from private sector
participation in the form of commercial lending for the new airport and
the AR, key franchises at the new airport and the WHC franchise.

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