SGTrains Forums

Full Version: [Hong Kong]New Hong Kong MTR chief faces funding challenges for city’s long-delayed h
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
New Hong Kong MTR chief faces funding challenges for city’s long-delayed high-speed railway link
From: South China Morning Post
By: Allen Au-Yeung
Date: 1/1/2016

The new chairman of MTR Corporation warned early this morning it would be a challenge to secure extra funding from lawmakers to finish Hong Kong’s long-delayed high-speed railway link.

MTR currently was short HK$19.6 billion to finish the city’s portion of the Guangzhou-Shenzhen-Hong Kong Express Rail Link and sought the amount by March.

To keep the project running, the government last year proposed to ask the Legislative Council to approve HK$19.6 billion in extra funding by February. Almost exactly the same amount would eventually be recouped through a special dividend to be paid by the MTR, subject to its shareholders’ approval.

[Read More]