Politics
MTR Corp pays out HK$2.25 billion for high-speed rail construction delays
Key Points
The MTR Corporation will hand over HK$2.25 billion (US$287 million) to the Hong Kong government as a one-off settlement for the delayed completion of the high-speed rail line, while reaching a consensus to avoid a payout over hurdles affecting the Sha Tin to Central Link. While the transport firm oversaw the design, construction, testing, and operation of the two projects, both are owned by the government and involved public funds. Under the arrangements announced on Friday, the MTR Corp will...
The MTR Corporation will hand over HK$2.25 billion (US$287 million) to the Hong Kong government as a one-off settlement for the delayed completion of the high-speed rail line, while reaching a consensus to avoid a payout over hurdles affecting the Sha Tin to Central Link.
While the transport firm oversaw the design, construction, testing, and operation of the two projects, both are owned by the government and involved public funds.
Under the arrangements announced on Friday, the MTR Corp will...