More concerns over costs and responsibility of the Express Rail Link project delay
The Secretary for Transport and Housing Professor Anthony Cheung Bing-leung has stated that the completion date of the Express Rail (Link) project will be later than what was originally approved which was originally marked for the end of 2015. The latest assessment by the MTR Corporation is for the end of 2017. However the target date of 2017 has only a 60 per cent probability according to international experts of the Independent Board Committee of the MTR Corporation.
Concerns over cost.
The MTR Corporation has supplied the Government a figure of $71.5 billion as the revised cost completed for the project. The MTR Corporation is still sticking to this proposed figure and considers this figure to be realistic. However in light of the comments made by the two independent experts, the Government is asking the MTR Corporation to once again revisit the figure.
The Secretary for Transport and Housing said
At the end of the day, we have to come to a realistic figure for the purpose of revising the estimate. As to the responsibility, the legal rights, legal obligation relating to any costs overrun, these rights and obligation have to be determined according to the provisions of the Entrustment Agreement signed between the Government and the MTR Corporation several years ago.