Monday, March 2, 2015   

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   
Other Hong Kong breaking news:
13 bidders after Pak Shek Kok site (02-27 17:37)
Key officials to skip Democrat Party's dinner (02-27 17:11)
Home buyers borrow HK$30b for new flats in January (02-27 16:50)
Insured mortgage cut to 80pc (02-27 16:48)
Leung to join NPC sessions opening (02-27 16:39)
First time flat buyers face tighter mortgage limits, amid rising prices and alarming debt levels (02-27 16:35)
More students support independence: Undergrad (02-27 16:03)
Man falls to death near PolyU (02-27 15:31)
More hope for reform proposal: Tam (02-27 14:27)
Unions demand seven days' paternity leave (02-27 13:52)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.