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Race on for HK river trade terminal

TRAFALGAR House parent company Jardine Matheson is in a two-horse race bidding for a concession to build and operate a 510 million river trade terminal in Hong Kongs north-west New Territories.

Just two groups returned bids to the territorys Port Development Board (PDB) last Friday.

One was submitted by the River Trade Terminal company, led by local developer Sun Hung Kai Properties and including Jardine Matheson, Chinese company COSCO Pacific and port operator Hutchison Whampoa.

The second was lodged by New World Development, which linked with Sea- Land Orient Terminals.

The PDB will announce the success-ful group on March 29 because the deal has to be signed by the end of the current financial year.

The 65 ha Tuen Mun terminal complex, designed by Scott Wilson Kirkpatrick and Partners, is expected to cost 210 million to construct.

Plans call for the formation of 3 km of quay wall and a 3 km breakwater, together with customs, fire fighting and immigration facilities.