High-speed rail Hong Kong section works delayed; MTR pays government $2.25 billion
高鐵工程延誤 港鐵支付22.5億元
The government and MTR Corporation have reached a settlement arrangement for delays to the Guangzhou-Shenzhen-Hong Kong Express Rail Link Hong Kong section and the Shatin-Central Link, with MTR paying the government $2.25 billion for delays during the high-speed rail's construction stage. For the Shatin-Central Link, MTR has proactively borne about $2.8 billion in additional expenditure in the past, and the two sides have agreed not to make mutual claims for the delays. The Transport and Logistics Bureau said mechanisms to strengthen railway project governance, monitoring and cost control have been implemented, and new railway projects will see MTR bear risks such as cost overruns.
Sets out MTR's payment of $2.25 billion to the government for the high-speed rail delay and the arrangement whereby about $2.8 billion has already been borne for the Shatin-Central Link, together with the original and actual opening dates and cost increases for both projects, allowing the responsibility amounts to be checked item by item.
Source: 政府新聞網·新聞速遞 · news.gov.hk