Is Hong Kong’s giant bridge a road to nowhere or path to new opportunities?

Some say the 35km link to Macau and Zhuhai will bring great economic benefits; others fear it’s a white elephant

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Mutiple problems have afflicted the bridge from Hong Kong to Zhuhai and Macau. Photo: Xinhua

Published: 8:00pm, 11 Jul 2017Updated: 12:49pm, 12 Jul 2017

On the sunny morning of July 1 President Xi Jinping, accompanied by the city’s new leader, Carrie Lam Cheng Yuet-ngor, visited the construction site of the multibillion-dollar bridge from Hong Kong to Zhuhai and Macau. They were assured that it was on track for completion by the end of the year.

It was déjà vu for the government as officials had received the same news in February when they visited the artificial island off Chek Lap Kok that will house Hong Kong’s immigration and customs facilities.

But there are contrasting views on the viability of the bridge in the wake of multiple problems affecting the Hong Kong section. They include the drifting of the artificial island, a one-year delay to the Hong Kong Link Road and HK$15 billion in cost overruns, which will push the final price tag for the Hong Kong section to HK$117 billion.

The Hong Kong section of the 35.6km bridge will cost HK$117 billion. Photo: EPA

There was another bombshell to come, with then transport minister Professor Anthony Cheung Bing-leung admitting that the main stretch of the bridge in mainland waters had overrun its budget.

This meant the three governments involved in the project – Hong Kong, Macau and Guangdong – would need to chip in additional funds on a proportional basis.

Financing comprised two key parts – cash contributions totaling 15.73 billion yuan (HK$18 billion) from the three governments with the Hong Kong government paying 6.75 billion yuan, plus a syndicated loan of 22 billion yuan from financial institutions. The loan would be repaid using income generated by the bridge after it opens at a date yet to be fixed.

Is Hong Kong’s giant bridge a road to nowhere or path to new opportunities?

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Some say the 35km link to Macau and Zhuhai will bring great economic benefits; others fear it’s a white elephant

Some say the 35km link to Macau and Zhuhai will bring great economic benefits; others fear it’s a white elephant