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HK Gov't Continues Investment in Railway Development
The government of the Hong Kong Special Administrative Region (SAR) will invest 80 to 100 billion HK dollars (10.2 to 12.8 billion U.S. dollars) in the next phase of railway development to meet the growth in domestic and cross-boundary transport needs up to the year 2016.
Speaking after the West Rail track-laying ceremony Wednesday, Financial Secretary Donald Tsang said "under our long-term transport strategy, we will accord priority to railways as the backbone of our passenger transport system."
The present batch of 6 priority railway projects including the West Rail, costs more than 100 billion HK dollars (12.8 billion U.S. dollars) and will be completed between 2002 and 2005.
"Another 80 to 100 billion HK dollars will be invested in six more rail corridors recommended in the Railway Development Strategy 2000," said Tsang.
"Infrastructural development like the West Rail not only meets the transport needs arising from social development and population increase, but also plays a key part in our long-term economic development," he noted
The other five railway projects under different phases of implementation are the MTR Tseung Kwan O Extension, the Ma On Shan to Tai Wai Rail Link, the KCR Extension from Hung Hom to Tsim Sha Tsui, the Sheung Shui to Lok Ma Chau Spur Line, and the Penny Bay's Rail Link.
The West Rail is on schedule to be completed in 2003.
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