Monday, January 26, 2015   

Public may have to pay for cost overrun
(08-12 17:35)

A Professor in Civil Engineering at the Polytechnic University of Hong Kong, Hung Wing-tat, said on Tuesday that he believed the public will end up having to foot much of the extra cost of building the troubled Express Rail Link between Hong Kong and Guangzhou.
The MTR Corporation had earlier said that the project had run into construction problems and would be completed in 2017 instead of next year.
The Corporation announced on Monday that the estimated cost for for building the rail link would now be HK$71.5 billion which is above HK$67 billion in public funds the railway was granted in 2010 by the Legislative Council's Finance Committee.
The government said it may file a claim for general damages against the Corporation if it was found to have breached of its obligations.
But Professor Hung said the government was responsible for some of the contracts and it would be a "difficult mess" to sort out. --RTHK   
Other Hong Kong breaking news:
Hong Kong media 'manipulated' by officials: report (01-26 18:33)
Rally organizers say police demands 'unreasonable' (01-26 18:01)
Police seize arms cache after raids on triads (01-26 17:02)
Finance services sees a 'talent gap' (01-26 16:47)
Expert pleads against artificial beach plan (01-26 16:47)
HK$70,000 working mother allowance urged (01-26 13:47)
Rita Fan rejects Albert Chan's remarks (01-26 13:46)
Marathon runner dead (01-26 12:39)
Changes urged in flat sales policy (01-23 18:40)
Work hour regulation panel sets up new task force (01-23 18:39)

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.