Reclamation Off Ma Liu Shui 'to Take Up To 15 Years'

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-10-07 HKT 17:24

Share this story

facebook

  • Alfred Sit (third from left) said the administration needs to plan well ahead for the city's IT development. Photo: RTHK

    Alfred Sit (third from left) said the administration needs to plan well ahead for the city's IT development. Photo: RTHK

Innovation and Technology minister Alfred Sit on Thursday said it will take up to 15 years to complete a reclamation project off Ma Liu Shui announced in the chief executive's policy address, even though it has not yet been decided what exactly the development will entail.

The reclamation project, together with land to be freed up by the relocation of the Sha Tin Sewage Treatment Works to caverns, is to provide a total of 88 hectares of new land, mainly for IT development.

At a press conference, Sit said they need to plan well ahead for the city's IT development.

He said now is a "golden age" for the technology sector in the city, and it would be too late to start planning for the longer-term after the Science Park and Cyberport are expanded in the next few years.

The official said the government will soon conduct studies on the Ma Liu Shui project.

"For the sea reclamation [on the] eastern corridor, they may need time for more thorough study before we can really know about the programme that we can have. And also we need to know the demand from the trade industry," he said.

Sit brushed aside concerns that the government proposal may turn out to be unpopular with nearby residents - as was the previous idea to build residential flats on the Ma Liu Shui reclamation site.

"The objection in the past mainly came from the concern on the transportation support and all sorts of issues that may cause the current residents some problems. Well, since we are going to [use] the land mainly for I&T development, we can expect the objection... will be minimised."

RECENT NEWS

SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion

SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more

4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA

The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more

Ripple Launches RLUSD Stablecoin In Japan Through SBI Group

Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more

SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan

SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more

Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences

Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more

European And South Korean Banks Form Project Pangea For FX Settlement

Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more