Hong Kong's high-speed rail project cost may rise further

GMT 17:31 2014 Tuesday ,28 October

Arab Today, arab today Hong Kong's high-speed rail project cost may rise further

Workers on the Shenzhen section of Guangzhou-Shenzhen-Hong Kong
Hong Kong - XINHUA

The cost of Hong Kong's high- speed rail line to Guangzhou project is likely to overrun the latest estimated 71.5 billion HK dollars (about 9.2 billion U.S. dollars), according to an expert report out Tuesday.
The report, commissioned by the MTR Corporation which operates the city's underground system and high-speed rail project, stated two independent experts' views, suggesting there is a 67 percent of chance that the construction cost will be exceeded.
The experts said that there was about 70 percent of chance that the project will be completed in 2017. The project was originally scheduled to finish in 2015.
This is the second report made public by the non-executive director committee formed by the MTR's Board on the rail link's delay.

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