Dedicated Team To Watch Infrastructure Costs
"); jQuery("#212 h3").html("

"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1455500_1_20190501142057.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1455500-20190501.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1455500-20190501.htm', 'DCS.dcsqry', '' ); } } }); }); });
2019-05-01 HKT 14:33
The government says a dedicated project management team will keep a lid on the huge costs associated with massive infrastructure projects, like the Lantau Tomorrow Vision reclamation plan. Lantau Tomorrow will be Hong Kong's most expensive infrastructure project to date with a price tag of over HK$620 billion.
The government wants to use land, to be reclaimed from waters east of Lantau, to boost housing supply and it is keen to avoid the scandals and cost over-runs that have hit other large scale projects, such as the MTR's Shatin-to-Central rail link.
Critics say the cost could rise to over HK$1 trillion by the time the project starts and it is like pouring money into the sea.
Speaking on a special RTHK "Backchat" programme on Wednesday, the head of the Sustainable Lantau Office, Michael Fong, pledged to control spending.
"We understand that the public may have perceptions that the government is not doing well in the past few years on quite a number of projects," he said. "But we are stepping up the efforts."
Fong said the Development Bureau would establish a project strategy and governance team. He said it would provide needed project management skills training and take on an overall monitoring role.
SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion
SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more
4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA
The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more
Ripple Launches RLUSD Stablecoin In Japan Through SBI Group
Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more
SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan
SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more
Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences
Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more
European And South Korean Banks Form Project Pangea For FX Settlement
Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more
