Consensus reached on financing of HK-Zhuhai-Macao bridge
The Hong Kong-Zhuhai-Macao
Bridge (HZMB) Advance Work Co-ordination Group has reached a consensus on the
bridge’s financing and way forward at a meeting in Guangzhou today (February
28).
Ends/Thursday,
February 28, 2008
The group's convenor, Secretary for Transport and Housing Ms Eva
Cheng, described the agreement as a significant step forward for the project
and thanked the representatives of the Guangdong and Macau Governments for
their efforts.
"We were briefed on the findings of the feasibility study for
the bridge by the Hong Kong-Zhuhai-Macao Bridge Advance Work Co-ordination
Group Project Office and the Highway Planning and Design Institute. The meeting
focused its discussion on the financing arrangement as well as the next stage
of work," Ms Cheng said.
"The three sides agreed that the three Governments would be
responsible for the construction and operation of the boundary crossing
facilities and the connecting roads to the bridge within their own
territory. The connecting roads are about 12.6 kilometres on the Hong
Kong side and 13.9 kilometres on the Mainland side. "
Under the proposed construction package, the main body of the
bridge will be about 29.6km. To the west, it lands on the artificial
island off Gongbei, and to the east, it lands on the eastern artificial island
for the tunnel section. It will be built according to the six-lane
expressway standard with vehicle speed of 100 km per hour. To ensure
unimpeded sea traffic of the main navigation channels towards the Guangzhou and
Shenzhen ports, there will be a tunnel linking up the two artificial islands
that provide bridge/tunnel switching facilities.
The three sides have also agreed to share the amount of the
subsidy by adhering to the principle of equalisation of cost-to-benefit
ratios. The equation has taken into account the economic benefits to each
of the three sides, such as the savings in transport costs and time, as well as
the costs of each side in building their connecting roads and their share of
subsidy for the main body of the bridge.
Private investment will be invited for the construction of the
main body of the bridge. The three governments will share the funding gap
according to the above principle. The actual amount of the subsidy will
be subject to the tendering result.
"On the basis of the consensus reached on the financing
package, the project’s feasibility study report will be revised as soon as
possible. At the same time, the group will start the preparatory work for
tendering," Ms Cheng said.