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Financing settled for HK-Zhuhai-Macao Bridge
Published: August 06, 2008
Hong Kong, Guangdong and Macau have agreed funding arrangements for construction of the Hong Kong-Zhuhai-Macau Bridge, opening the way for the next steps in the project's feasibility and design. China's central government will also contribute funds towards the 29.6km-long bridge. Yesterday's announcement said that construction is to start by 2010. Hong Kong will provide US$986 million, while the Guangdong-central government contribution will be US$1.02 billion. Macau's share is US$289 million. The remaining 58% of the bridge's construction costs will be financed by bank loans. Hong Kong's chief executive Donald Tsang hailed the three governments' consensus as a major breakthrough, adding the submission of a feasibility study can now be expedited. The next step is for the formulation of a formal agreement and institutional set-up for the project. Hong Kong will tender the bridge's design work after securing endorsement from its Legislative Council's finance committee. |
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