The additional capital cost arising from the cost overrun of the Hong Kong-Zhuhai-Macao Bridge Main Bridge is expected to be apportioned by the Mainland, Hong Kong and Macau, with the remaining sum to be financed by bank loans, which is in compliance with the principle stipulated when the project was approved.
The Transport & Housing Bureau made the statement today in response to media enquiries.
It said there has been an escalation in costs arising from the complicated construction conditions in the open sea, the difficulty in the construction method, the increase in labour and material costs as well as the refinement of the design and construction schemes.
The contractors have submitted applications to the Hong Kong-Zhuhai-Macao Bridge Authority to adjust the project estimate.
The latest approved project estimate of the main bridge is about RMB48.068 billion, with the cost overrun at about RMB9.95 billion.
The three sides are expected to contribute to a capital cost of about RMB4.6 billion, in which Hong Kong has to pay about RMB2 billion.
The bureau will report to the Legislative Council when the final amount and arrangement are confirmed, and will seek lawmakers’ approval for the additional funding required.