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The Chief Executive in Council approved yesterday (December 1) the grant of a new operating right of the peak tramway to the Peak Tramways Company Limited (the Company) for a 10-year period commencing January 1, 2016 under the Peak Tramway Ordinance (Cap. 265).
Under the new operating right, the Company will 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 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.
"The peak tramway is a popular tourism and recreational facility for both visitors and local people. In granting the new operating right, the Government is satisfied with the Company's safety and service performance during the current operating right period. We look forward to the Company's continued efforts to maintain the peak tramway as an important tourism and recreational facility of Hong Kong," a Government spokesperson said.
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/Wednesday, December 2, 2015
Issued at HKT 15:28
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