A consortium led by Shenzhen Expressway has dropped out of the proposed Shenzhen-Hong Kong Western Corridor project after the Hong Kong Government decided the bridge will be toll-free.
The consortium was formed more than two years ago with the aim of bidding for the construction and operation rights to the cross-border bridge, which will link the port city of Shekou, Shenzhen, to northwestern Hong Kong at Yuen Long.
The bridge is part of a future fourth border checkpoint between Shenzhen and Hong Kong to relieve traffic congestion at the other three checkpoints in Man Kam To, Lowu and Lok Ma Chau.
Construction was originally scheduled to begin this year and be completed by 2005/2006.
H share Shenzhen Expressway general manager Tao Hong said the consortium pulled out of the project as there was no investment value in a toll-free bridge.
Others in the consortium included the Shenzhen government-backed red chip Shum Yip Investment; China International Trust and Investment Corp; Huajian, an infrastructure arm of the Ministry of Communications; and Tianjian, also controlled by the Shenzhen Government.