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The Chief Executive in Council today (December 10) approved the granting of a right to run and operate the Peak Tramway to the Peak Tramways Company Limited (the Company) for a period of two years, from January 1, 2014 to December 31, 2015, under the Peak Tramway Ordinance (Cap. 265). The Company has to pay to the Government a non-refundable lump-sum full market premium of $25 million for the Government land on which the track of the Peak Tramway lies.
"The Peak Tramway is a popular tourist and recreational facility for both visitors and local people. In granting the two-year operating right, the Government is satisfied with the Company's safety and service performance during the current operating right period. Meanwhile, the Company will continue to take measures to maintain the safety and service performance standards of the Peak Tramway," a Government spokesperson said.
During the two-year interim operating period, the Government will study and decide upon the long-term arrangements for the Peak Tramway (including the exit and premium payment mechanisms), and introduce legislative amendments for those into the Legislative Council.
As a key tourist attraction in Hong Kong, the continued operation of the Peak Tramway is conducive to maintaining Hong Kong's attractiveness to tourists.
Ends/Tuesday, December 10, 2013
Issued at HKT 17:50
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