Hong Kong’s mass railway operator is facing HK$4.3 billion (US$544.4 million) in extra costs on three new lines, mostly due to construction delays.
That is on top of an additional HK$20.3 billion it will take to build the Hong Kong section of the cross-border high-speed rail, according to MTR Corp (MTRC).
South Island Line (East Section) will now cost HK$16.9 billion, up from HK$15.2 billion, although it’s on track for completion in 2016.
But the Kwun Tong Line extension will have cost HK$7.2 billion from its original HK$5.9 billion price tag by the time it’s finished in the fourth quarter next year, six months behind schedule.
Meanwhile, advance works on the HK$79.8 billion Shatin-Central Line will overshoot its HK$7.35 billion price tag by HK$1.3 billion, according to Apple Daily.
Construction is being held up by ongoing relocation and remedial work on a heritage site uncovered in To Kwan Wan station, pushing back its projected 2019 completion indefinitely.
MTRC will submit a revised budget estimate for the Shatin-Central Line next year.
Chief executive Lincoln Leong said about 80 percent of the work on the South Island Line (East Section) and the Kwun Tong extension have been completed.
Leong said there has been no decision how the budget shortfall for the high-speed rail will be funded.
However, he did not say if further delays are expected.
– Contact us at [email protected]