Major rail links in Hong Kong's Northern Metropolis to be completed 2 years early
Northern Metropolis on Tuesday, fast-tracking its completion by at least two years to 2034.
The agreement, which gives momentum to the Northern Metropolis project, involves HK$39.05 billion in financing from land premiums for the construction of three stations along the Northern Link main line, the design of the spur line, tunnels and other railway facilities. It is the first of a two-part deal.
'The Northern Link project 'embodies significant strategic value', a government spokesman said. 'With a strong determination to break new ground, the government has resolutely decided to make three major breakthroughs to enhance the speed and efficiency of the project.'
But the government did not reveal when the second part of the agreement, which would cover facilities such as other stations under the main and spur lines, would be signed exactly.
The agreement comes after Hong Kong and Macau Affairs Office director Xia Baolong urged local authorities to speed up work on the Northern Metropolis by removing barriers during his visit to the city last month.
The railway project will complement the development of the Northern Metropolis, which aims to turn 30,000 hectares (74,132 acres) of land into a new engine for economic growth with a population of about 2.5 million and around 650,000 jobs.
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