Cost cap set for express rail

Cost cap set for express rail

The Government and the Mass Transit Railway Corporation are working out a way to cap the Guangzhou-Hong Kong-Shenzhen Express Rail Link project’s final entrustment fee.

Secretary for Transport & Housing Prof Anthony Cheung told reporters today the Government is concerned about the project’s drastic deviations from the original commissioning schedule and approved funding.

Noting the corporation’s revised commissioning schedule to the third quarter of 2018, Mr Cheung said the Government does not want a further delay, adding it is assessing the corporation’s revised commissioning schedule and funding, and is expected to give a report to the Legislative Council by the end of this year.

On the Airport Authority’s proposed construction fee to help fund the three runway plan, Mr Cheung said the Government has asked the authority to consider boosting external borrowing to lower the passenger charge.

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