Funding arrangements agreed between three governments
The green light has finally been given to a bridge linking Hong Kong, Macau and Zhuhai , 25 years after the idea was first proposed.
In a deal struck yesterday, the three governments agreed on funding arrangements to cover any shortfall between construction costs and investment by the private developer that wins the bid to build the bridge.
Hong Kong would cover 50.2 per cent of the shortfall, Guangdong 35.1 per cent and Macau 14.7 per cent.
Secretary for Transport and Housing Eva Cheng said the ratio followed the cost-to-benefits principle.
'The three sides agreed that the three governments would be responsible for the construction and operation of the boundary-crossing facilities and the connecting roads to the bridge within their own territory. We agreed to share the amount of the subsidy under the cost-to-benefit ratio,' she said.
Zhang Xiaoqiang, deputy chairman of the National Development and Reform Commission, said earlier that Hong Kong would enjoy 64 per cent of the economic benefits brought by the bridge.