A draft agreement governing the construction of the Kowloon-Canton Railway Corp's (KCRC) East Rail extension has been approved by the executive council, the government said yesterday. The agreement covers the rights and obligations of the government and the KCRC in building the Ma On Shan to Tai Wai rail link and the extension from Hung Hom to Tsim Sha Tsui in terms of financing, design, construction and operation. Under the East Rail Extensions Project Agreement, the government will give the KCRC HK$8 billion for the projects and grant it property development rights at six sites.
