Friday, October 31, 2014   

Cost overrun of MTR Express Rail Link
(08-12 10:33)

The estimated cost for the troubled MTR Express Rail Link to Guangzhou has increased 10-percent to HK$71.5 billion - according to the railway's latest assessment made last month.

This is HK$6.5 billion more than the previous assessment last year, and exceeds the 67-billion in public funds it received from LegCo's Finance Committee in 2010.

The railway earlier announced a two-year delay in the project to 2017, after running into construction problems. The chairman of LegCo's Railways Subcommittee, Michael Tien, said the new estimate was overly optimistic.

A government spokesman said it might have a claim for general damages against the MTR if it had found the railway had breached its obligations. --RTHK   
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