The government has no 'one size fits all' solution for financing new Mass Transit Rail projects, even though it is committed to a commercial return, Secretary for Financial Services and the Treasury Frederick Ma Si-hang said yesterday.
The government would consider funding future MTR projects through direct subsidies, building core infrastructure or sticking with the practice of offering the firm property development rights.
Mr Ma was responding in a written reply to legislator Bernard Charnwut Chan's query whether the MTR Corporation was pursuing the government for $4 billion for the $10 billion South Island rail loop line linking Sheung Wan, Pokfulam, Aberdeen and back to Wan Chai.
Mr Ma said the government would only provide financial aid if it saw major public benefits, such as easing traffic congestion.
'There is no one size fits all solution,' he said. 'We will explore different options including, for example, capital grants, equity injection, loans, granting property development rights and the provision of essential public infrastructure works.'
The government would consider each request for financial support on its merit.
