Hong Kong to pay HK$2.36 billion share of mega bridge project’s HK$11.7 billion cost overrun
Remainder to come from Zhuhai, Macau and borrowing by mainland bridge authority
Hongkongers will need to pay HK$2.36 billion to cover the city’s share of the cost overrun in the construction of the Hong Kong-Zhuhai-Macau mega bridge, the government said on Wednesday.
Hong Kong’s Transport and Housing Bureau said on Wednesday that the latest project estimate for the main bridge approved by the Ministry of Transport was 48.068 billion yuan, meaning the cost overrun was about 9.95 billion yuan (HK$11.7 billion).
In accordance with the new estimate, the bureau said, the three sides would have to contribute to a capital cost of about 4.6 billion yuan, with Hong Kong putting in two billion yuan (HK$2.36 billion).
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The contribution will be reported to the Legislative Council when the final amount and the relevant arrangement are confirmed. The council’s approval will be sought for the funding.