Lawmakers Grill Govt Over Tung Chung Line Cost

"); jQuery("#212 h3").html("

"); });
2020-05-05 HKT 14:23
Lawmakers on Legco's railways subcommittee on Tuesday took turns to slam the government over the HK$18.9 billion bill for the Tung Chung Line extension, pointing out that the current estimate is three times the one made in the Railway Development Strategy 2014.
Under the plan, two new stations will be built to the east and west of the current Lantau Island terminus.
The tunnels for the line and the Airport Express at Hong Kong Station will also be extended for quicker train turnaround in the future. The six-year long construction is expected to begin in 2023.
At a meeting of the railways subcommittee, lawmakers said the project is too expensive and will only be finished years after people move into the public housing estates that are coming up in the area.
Civic Party lawmaker Tanya Chan said the high cost of the 1.3-kilometre extension makes it more expensive than other current railway projects in Asia and Europe.
A lawmaker from the pro-Beijing DAB party, Ben Chan, was also critical of the price tag. He said the plan doesn't meet the needs of residents who will start moving into apartments in the area, even though there won't be any trains for them.
The first batch of 31,000 public housing residents are expected to move into the new homes there in 2024.
Transport Secretary Frank Chan explained that the cost has increased partly because of the plan to build a Tung Chung East station, which will sit on a reclamation site.
Speaking on the project later, Jeremy Tam from the Civic Party also echoed the criticism.
“They keep talking about two stations over there. Well, the extension is only for Tung Chung West. Tung Chung East is already an existing railway, you just build a station over there,” he said. “Doesn’t matter how you look at it, it is pretty expensive.”
Why Financial Crime Keeps Rising, Even After $200 Billion In Compliance Costs
Despite spending over $200 billion globally on compliance, financial crime continues to surge. AI, deepfakes, and scam ... Read more
Cathay United Bank Launches First Private Banking Operations At Taiwans New Asset Management Hub
Taiwan has launched a new Asset Management Hub in Kaohsiung, aimed at accelerating the development of onshore private b... Read more
OCBC Hong Kong To Launch Serial Entrepreneur Financing By End-2025
OCBC Hong Kong has announced a new financing initiative by OCBC Group aimed at supporting serial entrepreneurs in Hong ... Read more
Hex Trust CEO Joins Hong Kongs Web3 Task Force
Alessio Quaglini, CEO and Co-founder of Hex Trust, has been appointed as a non-official member of the Hong Kong SAR Gov... Read more
E-Wallets Vs Digital Banks: Whats The Winning Fintech Model In Southeast Asia?
At Money20/20 Asia, we sat down with Jaykie Tan, Head of Business Development APAC at Mambu, and Cecilia Tan, Regional ... Read more
Hong Kong Introduces Anti-Scam Charter 3.0 To Tackle Online Financial Fraud
The Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission (SFC), the Insurance Authority (IA), and... Read more