Infrastructure boost: Financial Secretary John Tsang says $21.8 billion will be invested in infrastructure projects.

The Government will spend an estimated $21.8 billion on infrastructure projects for 2008-09, creating about 27,000 new construction jobs, Financial Secretary John Tsang says.

Delivering his maiden Budget today, Mr Tsang said in the next few years, the Government will implement the 10 major projects the Chief Executive announced in his Policy Address, to promote economic development, create more jobs and stimulate wage increases.

Mr Tsang said over the past two years there had been a significant rise in the number and value of approved infrastructure projects and public-works contracts awarded. As these projects reach their construction peaks, they will create more construction jobs.

The Development Bureau and the Transport & Housing Bureau will play a coordinating role to ensure these projects start as soon as possible, while controlling officers and heads of works departments will closely monitor the planning progress.

Major projects 

The financial chief also noted major transport infrastructure projects are progressing well. The MTR West Island Line is in detailed design stage and planning of the South Island Line eastern section has started.

Reviews of the Sha Tin to Central Link and the Guangzhou-Shenzhen-Hong Kong Express Rail Link's Hong Kong section are nearly final.

The study on a Hong Kong International Airport-Shenzhen Airport rail link is due to to be completed by the end of this year while the governments of Guangzhou, Hong Kong and Macau are finalising the financial arrangements for the Hong Kong-Zhuhai-Macau Bridge, Mr Tsang said.

He also noted the Government will apply for funding from the Legislative Council to begin a comprehensive assessment on the planning, construction and impact on heritage sites for opening up new development areas in the Northwest New Territories.

The Kai Tak Development has entered the construction stage, while the Hong Kong-Shenzhen Joint Task Force on Boundary District Development will give priority to two development projects at the new Liantang/Heung Yuen Wai control point and the Lok Ma Chau Loop, Mr Tsang added.