Chief Executive in Council grants second 10-year operating right of peak tramway
The Government today (October 10) announced that the Chief Executive in Council (CE-in-C) has approved the grant of the second 10-year operating right of the peak tramway to the Peak Tramways Company Limited commencing January 1, 2026.
"In granting the above, the Government is satisfied with the Company's commitment and capability of implementing an upgrading plan which will be conducive to maintaining the peak tramway as an important tourism and recreational facility. We look forward to the resulting enhanced peak tram facilities and services for the enjoyment of tourists and locals alike," a Government spokesman said.
Under the upgrading plan, the Company will increase the tramcar capacity by over 75 per cent from 120 passengers to 210 passengers; construct a covered, temperature-controlled queuing and waiting area for about 1 300 passengers at the lower terminus of the peak tramway; and renovate the upper terminus platform areas. The implementation of the upgrading plan would go a long way towards addressing the long-standing queuing problem at the terminus and bring about enhanced service provision to tourists and locals.
The Company will invest over $650 million for implementing the upgrading plan, currently expected to be completed in 2021.
The CE-in-C has also approved granting the Company the use of three additional pieces of Government land with an area of about 426 square metres adjacent to the existing tramway area for implementing the part of the upgrading plan aiming to increase the holding capacity of the lower terminus and improve the waiting environment for passengers.
Under the second 10-year operating right, the Company will continue to pay to the Government annually a sum of consideration equivalent to 12 per cent of its total annual revenue received in the year for the occupation and use of the additional Government land on top of the existing Government land on which the track of the peak tramway and the four intermediate stations lie. The Company will also set a service pledge on service frequency of the peak tramway as good as that in the first 10-year operating period.
Technical amendments to the Peak Tramway (Safety) Regulations (Cap. 265 sub. leg. A) and the Peak Tramway Ordinance (Cap. 265) will be introduced into the Legislative Council to implement the upgrading plan.
Ends/Wednesday, October 10, 2018