'Higher Price Tag For Legco Expansion Justified'
"); jQuery("#212 h3").html("

"); });
2022-05-20 HKT 13:28
Chairman of the Legislative Council's public works subcommittee, Lo Wai-kwok, on Friday defended a government request for more funding to expand the Legco complex.
Legco last year approved a sum of HK$1.17 billion for the project, but it's now estimated to cost HK$1.56 billion.
In a paper submitted to Legco, the government said tender prices are higher than expected because the difficulty of the project is "unique and unprecedented".
"The extremely stringent limitation on the work arrangements and the extensive amount of works allowed to be only conducted during nighttime throughout the construction period further aggravate the complexity and escalate the costs," it says.
Speaking on an RTHK programme, Lo said the higher price tag is reasonable.
"I wouldn't say it's a cost overrun as construction hasn't even started," he said.
"The construction teams can only work overnight to avoid affecting Legco's normal operations during the day. It's challenging and therefore affects the project cost."
He also said the expansion project is needed because the Legco complex is overcrowded.
HashKey Lists On Hong Kong Exchange
HashKey listed on the Main Board of The Stock Exchange of Hong Kong Limited, becoming the first digital asset company t... Read more
North Korea Linked To Over Half Of 2025 Crypto Heist Losses
TRM has published new research showing that North Korea-linked actors were responsible for more than half of the US$2.7... Read more
South Korea Forms Task Force After Coupang Data Breach
The South Korean government announced on Thursday (19 December) that it will establish an interagency task force to add... Read more
Is Hong Kongs Default Life Insurance Choice A Wealth Drain?
Hong Kong is a city that takes financial security seriously, boasting one of the highest insurance penetration rates in... Read more
RedotPay Secures $107M Series B, Total Funding Hits $194M
RedotPay, a global stablecoin-based payment fintech, has closed a US$107 million Series B round, bringing its total cap... Read more
91% Of Hong Kong Merchants Lose Revenue To Payment Friction
Aspire has released its Hong Kong Ecommerce Pulse Check 2025, highlighting that while mid-sized ecommerce merchants rem... Read more
