High-speed rail works delayed, MTR to pay government $2.25 billion and no cross-claims with Shatin-Central Link

The government and MTR have reached an agreement under which MTR must pay the government $2.25 billion for delays to the Hong Kong section of the high-speed rail project, while neither side will pursue claims against the other, as MTR has already borne about $2.8 billion in additional expenditure on the Shatin-Central Link. Panel on Transport chairman Chan Hang-ban welcomes the resolution of the dispute through agreement, while Michael Tien expresses regret over the decision not to pursue losses from delay-related cost overruns.