Board member says MTR Corp is too optimistic over Guangzhou rail link

The MTR Corporation was "over-optimistic" in predicting the new high-speed rail link to Guangzhou would open at the end of 2017 and without cost overruns, one of its board members has said for the first time.

The board member, who spoke on condition of anonymity, said an expert report commissioned by the MTR last year into the reasons for delays warned there was only a 69 per cent chance the 2017 target would be met. The MTR team running the project had been 90 per cent confident of meeting the new target.

On the HK$71.5 billion project budget, the two experts said there was a 67 per cent risk of overrunning, but the MTR was 90 per cent confident it would not happen.

The link was originally due to open this year, with a construction budget of HK$65 billion.

The Highways Department had said it was "highly doubtful" the project would continue on its new schedule.

"The two experts' report was correct in predicting the delays. Obviously they were not as optimistic as MTR management," the source said.