Hong Kong has cut the cost of its new Northern Metropolis rail link by 28 per cent to HK$86.2 billion (US$10.99 billion), after the government approved the funding for the project’s second phase, ahead of a planned launch by 2034. The Transport and Logistics Bureau and the MTR Corporation signed a project agreement on Tuesday covering the Northern Link, marking the start of construction for both its main and spur lines. The signing followed the green light from the Executive Council, the...
Hong Kong slashes costs for Northern Metropolis rail link by 28% to HK$86.2 billion
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SCMP - China Feed 2By Danny Mok
EXECUTIVE SUMMARY
Hong Kong has cut the cost of its new Northern Metropolis rail link by 28 per cent to HK$86.2 billion (US$10.99 billion), after the government approved the funding for the project’s second phase, ahead of a planned launch by 2034. The Transport and Logistics Bureau and the MTR Corporation signed a project agreement on Tuesday covering the Northern Link, marking the start of construction for both its main and spur lines. The signing followed the green light from the Executive Council, the...
Key Takeaways
- Hong Kong slashes costs for Northern Metropolis rail link by 28% to HK$86.2 billion.
- The Transport and Logistics Bureau and the MTR Corporation signed a project agreement on Tuesday covering the Northern Link, marking the start of construction for both its main and spur lines.
- The signing followed the green light from the Executive Council, the...
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Published originally on SCMP - China Feed 2
