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The Chief Executive in Council has approved financial arrangements for the second phase of the Northern Link project, with the government signing a full project agreement with MTR aiming for a synchronous opening by 2034 or earlier.
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Commissioner for Northern Metropolis Railways Raymond Ip Wai-man said on a radio program that the main and branch lines will be implemented concurrently, advancing the completion date by roughly two years.
He highlighted three core strengths of the railway: Serving the Northern Metropolis, Joining Two Lines, and Linking the Greater Bay Area.
To reduce costs and accelerate construction, authorities and MTR have introduced a series of efficiency measures. These include adopting unified Hong Kong railway standards, integrating mainland construction technology and equipment, and optimizing regional supply chains.
Additionally, the establishment of a dedicated Railway Checking Unit and a centralized electronic platform has cut administrative review times for building plans by 30 to 50 percent.
While compressing the timetable requires seamless coordination with surrounding land developments, Ip stressed that existing oversight mechanisms, key performance indicators, and statutory standards remain strictly unchanged to ensure project quality and safety.
The project will utilize a "Rail-plus-Property" model to ensure sufficient financial support for its overall construction budget, which stands at HK$86.2 billion—representing a 28 percent reduction from initial estimates.
